DR Horton Acquires Development Site In Greenacres, FL For $2M From Seller Avi Stern And Buyer's Rep Don Ginsburg & Michael Lewin - Katalyst Real Estate & Development
5001 Haverhill Road
$2,000,000
$9/SF
Building Size
217,800 SF
Asset Type
Development Site
Closing
Oct 4, 2022
AI
A development site located at 5001 Haverhill Rd in Greenacres, FL has been sold in a closed transaction. The property was acquired by DR Horton from the seller, Avi Stern for a sale price of $2,000,000. The development site spans a total of 217,800 square feet, with a price per buildable square foot (PPBSF) of $9.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,000,000
- Address: 5001 Haverhill Rd, Greenacres, FL
- Market: Greenacres, FL
- Buyer: DR Horton
- Seller: Avi Stern
- Brokers: Don Ginsburg & Michael Lewin - Katalyst Real Estate & Development
- BSF: 217,800
- PPBSF: $9
The deal was facilitated by brokers Don Ginsburg and Michael Lewin from Katalyst Real Estate & Development. They represented the buyer, DR Horton, and played a crucial role in the successful closing of the transaction.
Players
Lake Worth 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
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93