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Gatsby FL Acquires 7-Acre Development Site In Fort Lauderdale For $17.5M

Property Image
SOLD
$17,500,000
Darryl Kaplan
Chris Smith
Babak Ebrahimzadeh
+ 1

Florida

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Development Site
Sold 08/02/2022
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Property Image
SOLD

Gatsby FL Acquires 7-Acre Development Site In Fort Lauderdale For $17.5M

11200 Rca Center Drive, Palm Beach Gardens, Florida 33410, United States

See Similar Deals
Development Site
Sold 08/02/2022
Darryl Kaplan
Chris Smith
Babak Ebrahimzadeh
+ 1
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Development Site
Transaction Type:Sale

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

Chris Smith
CBRE
Chris Smith
3 deals$17.5M volume
BROKER
Darryl Kaplan
Darryl Kaplan
1 deal$17.5M volume
BROKER
Babak Ebrahimzadeh
Babak Ebrahimzadeh
8 deals$111.1M volume
BUYER
Babak Ebrahimzadeh
Babak Ebrahimzadeh
8 deals$111.1M volume
BUYER
Babak Ebrahimzadeh
Babak Ebrahimzadeh
8 deals$111.1M volume
BUYER
NS
Nader Shalom
2 deals$47.5M volume
BUYER

Details

SOLD
IMAGE: Chris Smith DATE: 08/02/2022 ADDRESS: 11200 RCA Center Drive MARKET: Fort Lauderdale ASSET TYPE: Development Site ~ ACRES: 7 BUYER: Gatsby FL - Babak Ebrahimzadeh & Nader Shalom SELLER: Daniel Catalfumo BROKERS: Chris Smith - CBRE (@CBRE); Darryl Kaplan - Darryl R. Kaplan Company SALE PRICE: $17,500,000

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

$933,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$62,173.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$82,958.93
Annual Debt Service$995,507.14