Bam Developers Acquires Development Site In Fort Lauderdale For $12.65M
650 North Andrews Avenue
$12,650,000
$230/SF
Building Size
54,888 SF
Asset Type
Development Site
Closing
Feb 24, 2023
AI
A development site located at 650 North Andrews Avenue in Fort Lauderdale, FL has been sold in a transaction. The property spans 12,000 square feet, with a sale price of $12,650,000. The price per square foot for the sale equates to $1,054.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $12,650,000
- Address: 650 North Andrews Avenue, Fort Lauderdale, FL
- Market: Fort Lauderdale, FL
The buyers, Bam Developers represented by Mayer Berkovits, Ben Landa, and Eric Shuval, have acquired the development site. On the other hand, Ellen Drotzer, represented by Lighthouse of Broward, acted as the seller in the transaction.
These details shed light on the key individuals and companies involved in the deal, providing additional insight not previously mentioned in the first paragraph.
Players
Market Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.25%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93