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:
- Property Type: Development Site
- Transaction Amount: $3,250,000
- Buyer: Ash Bhardwaj - Onx Homes
- Seller: Sidney Miller - Miller Property Invest LLC
- Brokers: Dan Dratch, Ethan Krauss, Ryan Wold & Zack McNamara - Franklin Street
- Date of Transaction: 02/04/2025
- Market: Boynton Beach
- Size: 5 acres
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
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