Foundry Commercial And Crow Holdings Acquire 10.2 Acre Development Site In Pompano Beach For $23.1M
$23,100,000
Building Size
—
Asset Type
Development Site
Closing
Jun 25, 2025
AI
A development site of 10.2 acres located at 33 Northwest 33rd Street in Pompano Beach was sold for $23.1 million. The site was previously utilized as a parking lot for the now-closed Festival Marketplace and is intended for development into an industrial campus near Florida’s Turnpike.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $23,100,000
- Buyer: Paul Ellis - Foundry Commercial
- Buyer: Michael Levy - Crow Holdings
- Seller: Shibber Khan - Criterion Group
- Market: Pompano Beach
- Asset Size: 10.2 acres
Foundry Commercial partnered with Crow Holdings for this acquisition, representing significant collaboration in the real estate sector. Shibber Khan, representing Criterion Group, finalized the sale of the property.
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
0.69%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93