Joe Levy Acquires Development Site From Remilard Family In Fort Lauderdale For $5.85M
2005 Us Route 1
$5,850,000
$140/SF
Building Size
41,741 SF
Asset Type
Development Site
Closing
Jan 13, 2025
AI
A development site located at 2005 S Federal Highway in Fort Lauderdale has been sold for a transaction amount of $5,850,000. The property covers an area of 41,741 square feet, valuing it at approximately $140 per square foot.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $5,850,000
- Address: 2005 S Federal Highway
- Market: Fort Lauderdale
- Square Footage: 41,741
- Price Per Square Foot: $140
- Buyer: Joe Levy
- Seller: Remilard Family
- Buyer's Representative: Bryan Cohen - Land 4 You Real Estate
- Seller's Representatives: Bradley Arendt, Jonathan Papeika, Mika Mattingly & Cecilia Estevez - Colliers
The Colliers Urban Core Team was responsible for representing the seller, the Remilard Family, in this transaction. To explore off-market opportunities or discuss property value, interested parties can contact Jonathan Papeika via email.
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
2.71%
Cash-on-Cash
-0.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93