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Edward Abbo Of The Apollo Companies Acquires Development Site In Dania Beach For $3M

Property Image
SOLD
$3,000,000

Florida

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Development Site22,498 SF
Sold 02/20/2025
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Property Image
SOLD

Edward Abbo Of The Apollo Companies Acquires Development Site In Dania Beach For $3M

46 Southeast 1st Avenue

See Similar Deals
Development Site22,498 SF
Sold 02/20/2025
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Development Site
Price Per Square Foot:$133
Total Square Footage:22,498 SF
Transaction Type:Sale

A development site comprising 0.52 acres located at 46 Southeast 1st Avenue in Dania Beach was sold for $3,000,000. The property includes a total of 22,498 square feet, translating to a price per square foot of $133. Future plans for the site involve constructing a 12-story multifamily tower with 102 units, along with a 36,690 square foot gym and 2,725 square feet allocated for ground-floor retail.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $3,000,000
  • Buyer: Edward Abbo - The Apollo Companies
  • Seller: Dianne Doolity
  • Square Footage: 22,498 SF
  • Price Per Square Foot: $133
  • Market: Dania Beach
  • Acreage: 0.52

Edward Abbo represented The Apollo Companies in this transaction, while Dianne Doolity was the seller. This sale marks a significant move for the buyer, who has plans to develop the site into a multifamily residential tower, enhancing the market landscape in Dania Beach.

Players

EA
Apollo Global
Edward Abbo
3 deals$92M volume
BUYER

Details

SOLD
IMAGE: Edward Abbo DATE: 02/20/2025 ADDRESS: 46 Southeast 1st Avenue MARKET: Dania Beach ASSET TYPE: Development Site ~ ACRES: 0.52 BUYER: Edward Abbo (@EdwardAbbo) - The Apollo Companies (@TheApolloCompanies) SELLER: Dianne Doolity SALE PRICE: $3,000,000 SF: 22,498 ~ PPSF: $133 NOTE: The Apollo Companies bought a 0.52-acre commercial site at 46 Southeast 1st Ave in Dania Beach from Dianne Doolity for $3M ($133/SF). Plans call for a 12-story, 102-unit multifamily tower with a 36,690 SF gym and 2,725 SF of ground-floor retail.

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Deal Type
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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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