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REO Asset Specialists Acquires Lauderhill Condo Portfolio For $17.4M

Property Image
SOLD
$17,400,000
Jesse Wright
Maddy McMillen
+ 1

Florida

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135,232 SF
Sold 03/17/2022
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Property Image
SOLD

REO Asset Specialists Acquires Lauderhill Condo Portfolio For $17.4M

2601 Northwest 56th Avenue, Lauderhill, Florida 33313, United States

See Similar Deals
135,232 SF
Sold 03/17/2022
Jesse Wright
Maddy McMillen
+ 1
Contact now

Summary

FLORIDA
Price Per Square Foot:$128
Total Square Footage:135,232 SF
Transaction Type:Sale

The property involved in this closed transaction is a condo located at 2601 & 2611 Northwest 56th Avenue in Lauderhill. The property sits on 5.6 acres of land and comprises a total of 154 units. The sale price for this transaction was $17,400,000, resulting in a per-unit price of $112,988. The total square footage of the condo is 135,232, giving a price per square foot of $129.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $17,400,000
  • Address: 2601 & 2611 Northwest 56th Avenue
  • Market: Lauderhill
  • Acres: 5.6
  • Units: 154
  • Price per Unit: $112,988
  • Square Footage: 135,232
  • Price per Square Foot: $129

The buyer in this transaction is REO Asset Specialists represented by Lisa Ramos and Lisette Nunez. The seller is Attainable Home Company represented by Meir Benzaken. The lender involved in the deal is LV Lending, with Camilo Niño and Ricardo Uribe handling the transaction. The mortgage brokers for the deal are Jesse Wright and Maddy McMillen from JLL and James Dockerty from Quartz Real Estate Advisors.

Players

Jesse Wright
23 deals$1.6B volume(786) 532-2347
BROKER

James "Jim" Dockerty
JLL
3 deals$159.8M volume
BROKER

Maddy McMillen
JLL
7 deals$1.1B volume
BROKER

LV Lending
BROKERAGE


Details

SOLD
IMAGE: James Dockerty, Camilo Niño, Ricardo Uribe & Jesse Wright DATE: 03/17/2022 ADDRESS: 2601 & 2611 Northwest 56th Avenue MARKET: Lauderhill ASSET TYPE: Condo ~ ACRES: 5.6 BUYER: REO Asset Specialists - Lisa Ramos & Lisette Nunez SELLER: Attainable Home Company - Meir Benzaken LENDER: LV Lending - Camilo Niño & Ricardo Uribe MORTGAGE BROKERS: Jesse Wright & Maddy McMillen - JLL; James Dockerty - Quartz Real Estate Advisors SALE PRICE: $17,400,000 UNITS: 154 ~ PPU: $112,988 SF: 135,232 ~ PPSF: $129

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$928,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$61,818.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$82,484.88
Annual Debt Service$989,818.52