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Deepak Khosa Acquires West Palm Beach Hotel From UC Funds

123 Ocean Avenue
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This Hotel property located in FL was sold for $8,100,000 about 3 years ago.

A hotel located at 123 Ocean Avenue in West Palm Beach has been sold in a recent transaction. The property, with a total area of 35,178 square feet, was sold for $8,100,000, resulting in a price per square foot of $230. The hotel comprises 50 keys and the price per key amounts to $162,000. The transaction took place on February 4, 2021.

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: $8,100,000
  • Address: 123 Ocean Avenue, West Palm Beach
  • Market: West Palm Beach
  • Square Footage: 35,178
  • Price per Square Foot: $230
  • Number of Keys: 50
  • Price per Key: $162,000

The buyer of the hotel is Deepak Khosa, representing Atlantic Property Services. On the other hand, UC Funds, represented by Dan Palmier, acted as the seller in this transaction.

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Deals
  • Location
    123 South Ocean Avenue, West Palm Beach, FL, USA123 South Ocean Avenue, West Palm Beach, FL, USA
  • Sale Price
    $8,100,000$8,100,000
    $230 PPSF$230 PPSF
  • Area
    35,178 SF35,178 SF
  • Asset Type
    HotelHotel

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Deal Summary

SALE IMAGE: Aaron Kurlansky, Dan Palmier, & Deepak Khosa DATE: 02/04/2021 ADDRESS: 123 Ocean Avenue MARKET: West Palm Beach ASSET TYPE: Hotel BUYER: Deepak Khosa - Atlantic Property Services SELLER: UC Funds - Dan Palmier PRICE: $8,100,000 SF: 35,178 ~ PPSF: $230 KEYS: 50 ~ PPK: $162,000

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