Updated Oct 29, 2024
Fat Village Properties Acquires Development Site In Fort Lauderdale For $5.5M
516 Northwest 1st Avenue, Fort Lauderdale, FL, USA
$5,500,000
$431/SF
Building Size
12,750 SF
Asset Type
Development Site
Closing
Feb 10, 2020
About this deal
AI
A development site located at 516 Northwest 1st Avenue in Fort Lauderdale has been sold for $5,500,000. The property, comprising of a total buildable area of 12,750 square feet, was acquired by Fat Village Properties LLC. The buyer was represented by Alan Hooper from Urban Street Development LLC. The seller in this transaction was Carol Daggett Lenahan.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $5,500,000
- Address: 516 Northwest 1st Avenue, Fort Lauderdale
- Market: Fort Lauderdale
- Buyer: Fat Village Properties LLC - Alan Hooper, Urban Street Development LLC
- Seller: Carol Daggett Lenahan
- Total Buildable Area: 12,750 square feet
- Price per Buildable Square Foot: $431
This deal was facilitated by Alan Hooper, representing the buyer Fat Village Properties LLC, along with Urban Street Development LLC. Carol Daggett Lenahan acted as the seller in this transaction. The property, located at 516 Northwest 1st Avenue in Fort Lauderdale, presents a great opportunity for development with its substantial buildable area.
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
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93