Updated Oct 28, 2024
Ocean Land Investments Acquires Development Site In Fort Lauderdale For $11.3M
501 Southeast 6th Avenue
$11,300,000
Building Size
—
Asset Type
Development Site
Closing
Jun 30, 2021
About this deal
AI
A development site located at 501 SE 6th Ave in Fort Lauderdale was recently sold for $11,300,000. The property spans approximately 0.8 acres and is situated in the Fort Lauderdale market. The sale took place on June 30, 2021.
Summary of Transaction Details
- Property Type: Development Site
- Transaction Amount: $11,300,000
- Address: 501 SE 6th Ave
- Market: Fort Lauderdale
- Asset Type: Development Site
- Acres: 0.8
The buyer of the property was Ocean Land Investments, represented by Jean Francois Roy. On the other side, the seller was Maple Multi-Family Land SE, L.P., a subsidiary of Trammell Crow Residential.
On the Map
$11,300,000
Development Site
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Players
Fort Lauderdale 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
1.40%
Cash-on-Cash
-0.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93