Nadim Ashi Of Fort Partners Acquires 21 Units At Harbor Towers For $20 Million
3901 South Flagler Drive
$20,000,000
Units
21
Asset Type
Condo
Closing
Sep 21, 2026
About this deal
AI
The transaction involves 21 units at the Harbor Towers and Marina Condo, located at 3901 South Flagler Drive in West Palm Beach, FL. The total sale price was $20,000,000, resulting in a price per unit of $952,381. The property is part of a 61-unit complex and spans a 2-acre lot.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $20,000,000
- Units: 21
- Price Per Unit: $952,381
- Buyer: Nadim Ashi - Fort Partners
- Seller: Stephen Ross - Related Ross
- Market: West Palm Beach, FL
This transaction marks Fort Partners' acquisition of additional units, increasing their ownership to 60 units in the property. The redevelopment plans for the 2-acre property have been indicated, showing their intent to enhance the existing structure.
On the Map
$20,000,000
Condo
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Players
West Palm Beach Condo Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93