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650 North Andrews Avenue

Bam Developers Acquires Development Site In Fort Lauderdale For $12.65M
SOLDDevelopment Site

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

Mayer Berkovits

Bam Developers

Buyer

$38.2M

vol

3 deals

Buyer
BD
Bam DevelopersBuyer
LB
Lighthouse of BrowardSeller

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