Updated Dec 4, 2024
Noah Bachow & David Berg Acquire Fort Lauderdale Development Site For $8M
11 North Andrews Avenue
$8,000,000
$307/SF
Building Size
26,014 SF
Asset Type
Development Site
Closing
Nov 27, 2023
About this deal
AI
Noah Bachow and David Berg have purchased a development site located at 11 North Andrews Avenue in Fort Lauderdale. The property was sold by William Soman for a total of $8,000,000. The development site spans 26,014 square feet, resulting in a price per square foot of $308.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $8,000,000
- Address: 11 North Andrews Avenue, Fort Lauderdale
- Buyer: Noah Bachow & David Berg
- Seller: William Soman
- Brokers: Bradley Arendt, Jonathan Papeika, Mika Mattingly - Urban Core Division - Colliers International
- Square Footage: 26,014
- Price Per Square Foot: $308
The deal was facilitated by the brokers Bradley Arendt, Jonathan Papeika, and Mika Mattingly from the Urban Core Division of Colliers International.
On the Map
$8,000,000
$307/SF
Development Site
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Players
Fort Lauderdale Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93