Updated Dec 21, 2023
Albert Lepage Acquires SFR In Fort Lauderdale For $10.9M
1408 West Lake Drive, Fort Lauderdale, FL, USA
$10,900,000
$1,424/SF
Building Size
7,653 SF
Asset Type
Development Site
Closing
Feb 19, 2020
About this deal
AI
Located at 1408 West Lake Drive in Fort Lauderdale, this single-family home was recently sold in a closed transaction. The property, featuring a total of 7,653 square feet, was sold for a price of $10,900,000, resulting in a per square foot cost of $1,424. The sale took place on February 20, 2020, and was facilitated by Kevin R. Kreutzfeld, who represented the seller, Leslie Melamed, through Premier Estate Properties. Albert Lepage acted as the buyer in this transaction, and his representative was Kent McIntyre from Douglas Elliman.
Summary of transaction details
- Property Type: SFR
- Transaction Amount: $10,900,000
- Address: 1408 West Lake Drive
- Market: Fort Lauderdale
- Square Footage: 7,653
- Price per Square Foot: $1,424
Kevin R. Kreutzfeld, a representative from Premier Estate Properties, played a crucial role as the seller's representative in this real estate deal. On the other hand, Kent McIntyre from Douglas Elliman represented the buyer, Albert Lepage. Both parties worked diligently to successfully close this transaction.
Players
Fort Lauderdale Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Deal FAQ
About $1.4K per square foot on a published $10.9M for 7,653 square feet (2020).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.46%
Cash-on-Cash
-0.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93