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2300 SW 15th Ave Fort Laude...

13th Floor Homes Acquires Development Site In Fort Lauderdale For $6 Million
SOLDDevelopment Site

13th Floor Homes Acquires Development Site In Fort Lauderdale For $6 Million

2300 SW 15th Ave Fort Lauderdale, FL 33315, USA

$6,000,000

Building Size

Asset Type

Development Site

Closing

Aug 29, 2023

AI

A development site located at 2300 Southwest 15th Avenue in Fort Lauderdale has been sold for $6,000,000. The property was purchased by 13th Floor Homes from the Church Of The Nazarene In Fort Lauderdale. The transaction was facilitated by Bradley Arendt of Colliers International, who represented the buyer during the sale.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $6,000,000
  • Address: 2300 Southwest 15th Avenue, Fort Lauderdale
  • Market: Fort Lauderdale

Bradley Arendt, a broker from Colliers International, played a crucial role in the transaction, representing 13th Floor Homes throughout the deal. The sale of the development site signifies the continuous investment and growth in the real estate market of Fort Lauderdale.

Players

Bradley Arendt

Colliers

Broker

$175.4M

vol

16 deals

Broker
1H
13th Floor HomesBuyer

Market 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

2.64%

Cash-on-Cash

-0.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93