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4280 Hypoluxo Road

Ash Bhardwaj Of Onx Homes Acquires Development Site In Boynton Beach For $3.25 Million
SOLDDevelopment Site

Ash Bhardwaj Of Onx Homes Acquires Development Site In Boynton Beach For $3.25 Million

4280 Hypoluxo Road

$3,250,000

Building Size

Asset Type

Development Site

Closing

Feb 4, 2025

AI

Ash Bhardwaj from Onx Homes has acquired a fully entitled development site located at 4280 Hypoluxo Road in Boynton Beach. The site spans five acres and was purchased from Sidney Miller of Miller Property Invest LLC for a total of $3,250,000.

Summary of transaction details:

This transaction involved multiple representatives from Franklin Street, specifically Dan Dratch, Ethan Krauss, Ryan Wold, and Zack McNamara. Onx Homes is expanding its operations beyond its current projects in Miami-Dade and Central Florida, but has not disclosed specific plans for the 40-townhouse development on this site.

Players

Dan Dratch

Franklin Street

Broker

$267.8M

vol

48 deals

Broker

Boynton Beach 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

4.88%

Cash-on-Cash

-1.39%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93