Trump Plaza Condominium Office Sells for $4M

WEST PALM BEACH, FL-First West Palm Office bought the 29,737-sf office building here from LSG Corp. The buyers obtained a loan for $2.4 million, or about 60% of the cost, from a Washington, DC-based lender.

By Melissa Bogdany | February 03, 2003 at 01:01 AM

The buyer received a loan in the amount of $2.4 million from a Washington, DC-based lender. The loan represented approximately 60% of the sale price. Financing for the sale was obtained at a 10-year term, 30-year amortization, at a fixed rate, which was about 250 basis points over the 10-year Treasury.

Lan Chi Stempel, vice president of Thomas D. Wood and Co., a commercial mortgage-banking firm in Miami negotiated the financing.

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