Bam Developers Acquires Development Site In Fort Lauderdale For $12.65M
SOLD
$12,650,000
Florida
See Similar DealsDevelopment Site54,888 SF
Sold 02/24/2023
SOLD
Bam Developers Acquires Development Site In Fort Lauderdale For $12.65M
650 North Andrews Avenue
See Similar DealsDevelopment Site54,888 SF
Sold 02/24/2023
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$230
Total Square Footage:54,888 SF
Transaction Type:Sale
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
BUYER
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$674,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$44,942.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$59,967.45
Annual Debt Service$719,609.44
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