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Vincent Viola & Mahesh P. Desai Sell Condos In Fort Lauderdale For $3.775M

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SOLD
$3,775,000

Florida

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7,396 SF
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SOLD

Vincent Viola & Mahesh P. Desai Sell Condos In Fort Lauderdale For $3.775M

2200 North Ocean Boulevard

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7,396 SF
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Summary

FLORIDA
Price Per Square Foot:$510
Total Square Footage:7,396 SF
Transaction Type:Sale

The condominium units located at 2200 North Ocean Boulevard, specifically units 2103 and 2104, were recently sold in Fort Lauderdale. The sale took place on 03/02/2022 and the property was purchased for a total of $3,775,000. The combined square footage of the units is 7,396, resulting in a price per square foot of $1,528. The buyer of the property is Nyota J. Desai, with representation from Mahesh P. Desai of Capital Vision. The seller is Teresa Viola and Vincent Viola, who are associated with the Florida Panthers. First Republic Bank served as the lender for the transaction.

Summary of transation details

  • Property Type: Condo
  • Transaction Amount: $3,775,000
  • Address: 2200 North Ocean Boulevard Units 2103 & 2104
  • Market: Fort Lauderdale

Nyota J. Desai, the buyer of the property, was represented by Mahesh P. Desai from Capital Vision. On the other hand, Teresa Viola and Vincent Viola, associated with the Florida Panthers, acted as the sellers. The transaction was facilitated with the assistance of First Republic Bank as the lender. This deal highlights the collaboration between various individuals and entities in the real estate market.

Players

BUYER


4 deals$100.6M volume
SELLER

Vincent Viola
5 deals$103.4M volume
SELLER

Details

SOLD
IMAGE: Vincent Viola & Mahesh P. Desai DATE: 03/02/2022 ADDRESS: 2200 North Ocean Boulevard Units 2103 & 2104 MARKET: Fort Lauderdale ASSET TYPE: Condo BUYER: Nyota J. Desai; Mahesh P. Desai - Capital Vision SELLER: Teresa Viola; Vincent Viola - Florida Panthers LENDER: First Republic Bank SALE PRICE: $3,775,000 SF: 7,396 ~ PPSF: $1,528

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$13,411.79
Cash-on-Cash Return-1.27%
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