Lennar Corp. Acquires 118.6 Acre Development Site In Delray Beach For $19.19M
SOLD
$19,190,000
Florida
See Similar DealsDevelopment Site
Sold 01/10/2022
SOLD
Lennar Corp. Acquires 118.6 Acre Development Site In Delray Beach For $19.19M
5901 Via Delray, Delray Beach, FL 33484
See Similar DealsDevelopment Site
Sold 01/10/2022
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Sale
A development site located at 5901 Via Delray in Delray Beach has been sold for $19,190,000. The property spans across 118.6 acres. The sale was completed on January 10, 2022.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $19,190,000
- Address: 5901 Via Delray
- Market: Delray Beach
- Acres: 118.6
The buyer, Lennar Corp., represented by Stuart Miller, acquired the development site from the seller, 13th Floor Homes.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,023,466.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$68,178.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$90,970.39
Annual Debt Service$1,091,644.68
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