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Rama Raju Mantena Acquires Manalapan Single Family For $48.4M With Buyer's Rep Mark Griffin

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SOLD
$48,400,000

South Carolina

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Single Family16,200 SF
Sold 01/12/2023
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Property Image
SOLD

Rama Raju Mantena Acquires Manalapan Single Family For $48.4M With Buyer's Rep Mark Griffin

1400 South Ocean Boulevard

See Similar Deals
Single Family16,200 SF
Sold 01/12/2023
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Summary

SOUTH CAROLINA
Asset Type:Single Family
Price Per Square Foot:$2,987
Total Square Footage:16,200 SF
Transaction Type:Sale

A single-family property located at 1400 South Ocean Boulevard in Manalapan has been sold for $48,400,000. The property spans across 1.8 acres and offers 16,200 square feet of living space. The sale price equates to a price per square foot of $2,987. The transaction took place on January 12, 2023.

Summary of transation details

  • Property Type: Single Family
  • Transaction Amount: $48,400,000
  • Address: 1400 South Ocean Boulevard
  • Market: Manalapan
  • Asset Type: Single Family
  • Acres: 1.8

The buyer of the property is Rama Raju Mantena, representing P4 Healthcare, along with Padmaja Mantena. The sellers are Francis & Dolores Mennella. Mark Griffin from Sotheby's International Realty served as the buyer's representative, while Philip Lyle Smith and Carla Ferreira-Smith from Luxury Resort Portfolio represented the sellers in the deal.

Players

Mark Griffin
9 deals$191.1M volume
BROKER

Philip Lyle Smith
Luxury Resort Portfolio
2 deals$96.4M volume(561) 445-2282
BROKER

Carla Ferreira-Smith
Luxury Resort Portfolio
2 deals$116.7M volume(561) 445-2299
BROKER

Details

SOLD
IMAGE: Rama Raju Mantena DATE: 01/12/2023 ADDRESS: 1400 South Ocean Boulevard MARKET: Manalapan ASSET TYPE: Single Family ~ ACRES: 1.8 BUYER: Rama Raju Mantena - P4 Healthcare; Padmaja Mantena SELLER: Francis & Dolores Mennella BUYER'S REP: Mark Griffin - Sotheby’s International Realty (@SothebysRealty) SELLER'S REP: Philip Lyle Smith (@PlSmith561) & Carla Ferreira-Smith (@CFSmith561) - Luxury Resort Portfolio (@Luxury_Resort_Portfolio) SALE PRICE: $48,400,000 SF: 16,200 ~ PPSF: $2,987

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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