Debra Ushkowitz's Leap Development Acquires Edgewater Drive Property For $2.5M
3443 Edgewater Drive
$2,500,000
Building Size
—
Asset Type
Commercial
Closing
Feb 21, 2024
AI
The commercial property located at 3443 Edgewater Drive in Orlando was sold for $2.5 million. The 1.3-acre property, which includes College Park's Apenberry's Gardens, was purchased by Debra Ushkowitz and Laura Cosgrove through their company L2D2 Land. The transaction was facilitated with financing from Commerce Bank & Trust and marks a significant deal in the in-demand College Park market.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: $2,500,000
- Buyer: Debra Ushkowitz - Leap Development Group LLC; Laura Cosgrove - Foundation for Foster Children
- Seller: Eric & Lisa Apen
- Buyer's Representative: Ryan Stahl - Equinox Development
- Seller's Representative: Lawson Dann - Foundry Commercial
- Lender: Commerce Bank & Trust - Steve Fulmer
The buyer's representatives, Ryan Stahl of Equinox Development and seller's representative Lawson Dann of Foundry Commercial played crucial roles in facilitating the sale of the property. The Foundation for Foster Children, represented by Laura Cosgrove, was part of the purchasing entity led by Debra Ushkowitz, marking a strategic acquisition in the vibrant Orlando market.
Players
Orlando Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93