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1151 Southwest 9th Avenue, ...

Updated Nov 24, 2023

Denny St. Romain & Robert Given Acquire Development Site In Fort Lauderdale For $22M
SOLDDevelopment Site

Denny St. Romain & Robert Given Acquire Development Site In Fort Lauderdale For $22M

1151 Southwest 9th Avenue, Fort Lauderdale, Florida 33315, United States

$22,000,000

Building Size

Asset Type

Development Site

Closing

Jan 19, 2023

About this deal

AI

An 11-acre development site located at 1151 Southwest Ninth Avenue in Fort Lauderdale has been sold for a total price of $22,000,000. The transaction took place on January 19, 2023. The property was purchased by Denny St. Romain and Robert Given, who were represented by Cushman & Wakefield's New River Point team. The sellers of the property were Michael and Gene Whiddon.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $22,000,000
  • Address: 1151 Southwest Ninth Avenue, Fort Lauderdale
  • Market: Fort Lauderdale
  • Buyer: Denny St. Romain & Robert Given - Cushman & Wakefield - New River Point
  • Seller: Michael & Gene Whiddon

The buyers, Denny St. Romain and Robert Given, were represented by the Cushman & Wakefield team from their New River Point office. The sellers, Michael and Gene Whiddon, successfully closed the deal for the development site. This transaction marks an important milestone in the real estate market of Fort Lauderdale.

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

0.72%

Cash-on-Cash

-0.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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