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702 Northwest 3rd Street

Tal Levinson & Eric Malinasky Acquire Fort Lauderdale Development Site From Nova Southeastern University For $1.85M
SOLDDevelopment Site

Tal Levinson & Eric Malinasky Acquire Fort Lauderdale Development Site From Nova Southeastern University For $1.85M

702 Northwest 3rd Street

$1,850,000

$68/SF

Building Size

27,000 SF

Asset Type

Development Site

Closing

Oct 3, 2023

AI

A development site located at 702 Northwest 3rd Street in Fort Lauderdale has been sold for $1,850,000. The property spans 27,000 square feet, resulting in a price per square foot of $69. The transaction involved the buyer, Tal Levinson and Eric Malinasky, and the seller, Nova Southeastern University.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $1,850,000
  • Address: 702 Northwest 3rd Street, Fort Lauderdale
  • Market: Fort Lauderdale

Brady Titcomb from JLL represented the buyer, Tal Levinson and Eric Malinasky, in this property transaction.

Players

Brady Titcomb

JLL

Broker

$22.5M

vol

5 deals

Broker

Eric Malinasky

Buyer

$21.7M

vol

9 deals

Buyer
JU
JV Nova Southeastern UniversitySeller

Fort Lauderdale 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

8.57%

Cash-on-Cash

-2.45%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93