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
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.
Players
Fort Lauderdale Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
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