Updated Apr 13, 2026
Scott Lawlor Of Waypoint Residential Acquires Development Site In Pompano Beach For $11M
2449 Northeast 13th Avenue
$11,000,000
$5,500,000/SF
Building Size
2 SF
Asset Type
Development Site
Closing
Apr 9, 2026
About this deal
AI
A 2.95-acre development site located at 2449 Northeast 13th Avenue in Pompano Beach has been sold for $11 million. The property is entitled for the development of 190 apartments and includes 5,972 square feet designated for retail use. The transaction features a price per square foot of $3,728,814 and financing that involves a mortgage from BRORA 1118 LLC.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $11,000,000
- Buyer: Scott Lawlor - Waypoint Residential
- Seller: Morris Kaplan - Kaplan Residential
- Lender: BRORA 1118 LLC
- Location: 2449 Northeast 13th Avenue, Pompano Beach
- Square Footage: 2.95
- PPSF: $3,728,814
This transaction is notable as it involves Scott Lawlor representing Waypoint Residential and Morris Kaplan representing Kaplan Residential. The deal was executed despite being below the initial assembly cost of $12.2 million, highlighting challenges in multifamily development caused by increased costs and tighter capital markets.
On the Map
$11,000,000
$5,500,000/SF
Development Site
View full map
Players
Pompano Beach Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Deal FAQ
About $5.5M per square foot on a published $11M for 2 square feet (2026).
Visit Morris Kaplan to view all their deals.
Browse Pompano Beach development site sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93