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2200 North Ocean Boulevard

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

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

2200 North Ocean Boulevard

$3,775,000

$510/SF

Building Size

7,396 SF

Asset Type

Closing

Nov 10, 2022

AI

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

CV
Capital VisionBuyer

Teresa Viola

Florida Panthers

Seller

$100.6M

vol

4 deals

Seller

Fort Lauderdale CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.20%

Cash-on-Cash

-1.20%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93