Updated Mar 11, 2025
Fortune International Group Acquires Development Site In Pompano Beach For $27.5M
1380 S Ocean Blvd, Pompano Beach, FL 33062, USA
$27,500,000
$137/SF
Building Size
200,376 SF
Asset Type
Development Site
Closing
Sep 29, 2020
About this deal
AI
Fortune International Group, represented by Edgardo Defortuna, acquired a development site located at 1380 South Ocean Boulevard in Pompano Beach. The seller, Lionheart Capital, was represented by Ophir Sternberg. The transaction took place on September 30, 2020.
Summary of Transaction Details
- Property Type: Development Site
- Transaction Amount: $27,500,000
- Address: 1380 South Ocean Boulevard
- Market: Pompano Beach
The development site has a building square footage (BSF) of 200,376, resulting in a price per building square footage (PPBSF) of $137.
Edgardo Defortuna represented Fortune International Group as the buyer, while Lionheart Capital was represented by Ophir Sternberg as the seller. The deal between the two parties marked the successful transfer of ownership for the development site in Pompano Beach.
On the Map
$27,500,000
$137/SF
Development Site
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Players
Pompano Beach 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
0.58%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93