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Debra Ushkowitz's Leap Development Acquires Edgewater Drive Property For $2.5M

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SOLD
$2,500,000

Florida

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Commercial
Sold 02/21/2024
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SOLD

Debra Ushkowitz's Leap Development Acquires Edgewater Drive Property For $2.5M

3443 Edgewater Drive

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Commercial
Sold 02/21/2024
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Summary

FLORIDA
Asset Type:Commercial
Transaction Type:Sale

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

Lawson Dann
3 deals$18M volume(407) 540-7700
BROKER

Ryan Stahl
Equinox Development
2 deals$8.9M volume(407) 342-0277
BROKER

Commerce Bank & Trust
LENDER

Details

SOLD
IMAGE: Lawson Dann, Laura Cosgrove & Ryan Stahl DATE: 02/21/2024 ADDRESS: 3443 Edgewater Drive MARKET: Orlando ASSET TYPE: Commercial ~ ACRES: 1.3 BUYER: Debra Ushkowitz - Leap Development Group LLC; Laura Cosgrove - Foundation for Foster Children SELLER: Eric & Lisa Apen BUYER'S REP: Ryan Stahl - Equinox Development (@Equinox_Development) SELLER'S REP: Lawson Dann (@Lawson_Dannn) - Foundry Commercial (@FoundryCommercial) LENDER: Commerce Bank & Trust - Steve Fulmer SALE PRICE: $2,500,000 NOTE: College Park's Apenberry's Gardens, a neighborhood institution, was sold for $2.5 million, including the 1.3-acre property. The business and land were purchased by L2D2 Land, owned by Debra Ushkowitz and Laura Cosgrove, with financing from Commerce Bank & Trust, marking a significant transaction in the in-demand College Park market.

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

$133,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,881.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,851.28
Annual Debt Service$142,215.31