PB North Ocean Trust Acquires Kathy Bleznak's Palm Beach SFR For $20M
Palm Beach
$20,000,000
$4,402/SF
Building Size
4,543 SF
Asset Type
Single Family Residence
Closing
Sep 6, 2023
AI
Kathy Bleznak, a longtime Palm Beach resident, sold her extensively remodeled four-bedroom house at 960 N. Ocean Blvd for $20 million. This is a significant increase from its previous sale in 1993 at $1.17 million. The property spans 4,543 square feet and has a price per square foot (PPSF) of $4,402.
Summary of transaction details
- Property Type: Single Family Residential (SFR)
- Transaction Amount: $20,000,000
- Property Address: 960 N. Ocean Blvd, Palm Beach
- Market: Palm Beach
The buyer of the property is PB North Ocean Trust, with Michael J. Bracci as the trustee. The seller, Kathy Bleznak, was represented by Lawrence Moens. On the buyer's side, Lilly Leas Ferreira from Brown Harris Stevens acted as the representative. It is worth noting that Kathy Bleznak also purchased a four-bedroom apartment at One Watermark Place in West Palm Beach.
Players
Palm Beach Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93