Updated Oct 28, 2024
Gatsby FL Acquires 7-Acre Development Site In Fort Lauderdale For $17.5M
11200 Rca Center Drive, Palm Beach Gardens, Florida 33410, United States
$17,500,000
Building Size
—
Asset Type
Development Site
Closing
Aug 1, 2022
About this deal
AI
The development site located at 11200 RCA Center Drive in Fort Lauderdale has been sold for $17,500,000. This property spans across 7 acres and was sold by Daniel Catalfumo to Gatsby FL, represented by Babak Ebrahimzadeh and Nader Shalom. The transaction took place on 08/02/2022.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $17,500,000
- Address: 11200 RCA Center Drive, Fort Lauderdale
- Market: Fort Lauderdale
- Buyer: Gatsby FL - Babak Ebrahimzadeh & Nader Shalom
- Seller: Daniel Catalfumo
- Brokers: Chris Smith - CBRE ; Darryl Kaplan - Darryl R. Kaplan Company
Chris Smith from CBRE and Darryl Kaplan from Darryl R. Kaplan Company were the brokers involved in the transaction.
Players
Palm Beach Gardens 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
0.91%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93