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
$15,250,000
Building Size
—
Asset Type
—
Closing
Mar 29, 2022
About this deal
AI
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.
Players
Fort Lauderdale CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.04%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93