Salt Air 20 Development Acquires Land And Townhouse In Fort Lauderdale For $15.25M From Seller Michael Kahane - AIDS Healthcare Foundation
SOLD
$15,250,000
Florida
See Similar DealsSold 03/30/2022
SOLD
Salt Air 20 Development Acquires Land And Townhouse In Fort Lauderdale For $15.25M From Seller Michael Kahane - AIDS Healthcare Foundation
409 Southeast 8th Street, Fort Lauderdale, Florida 33316, United States
See Similar DealsSold 03/30/2022
Summary
FLORIDA
Transaction Type:Sale
The property involved in this transaction is located at 409 SE 8th Street & 500-510 SE 7th Street in Fort Lauderdale. It consists of land and townhouses. The sale of this property was completed on 03/30/2022.
Summary of transaction details
- Property Type: Land & Townhouse
- Transaction Amount: $15,250,000
- Market: Fort Lauderdale
Salt Air 20 Development LLC, represented by Robert Given, purchased the property from AIDS Healthcare Foundation, represented by Michael Kahane. The buyer acquired the property for a total price of $15,250,000.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$813,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$54,180.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$72,292.78
Annual Debt Service$867,513.36
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