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
Market Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
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