Tal Levinson & Eric Malinasky Acquire Fort Lauderdale Development Site From Nova Southeastern University For $1.85M
SOLD
Florida
See Similar DealsDevelopment Site27,000 SF
Sold 10/03/2023
SOLD
Tal Levinson & Eric Malinasky Acquire Fort Lauderdale Development Site From Nova Southeastern University For $1.85M
702 Northwest 3rd Street
See Similar DealsDevelopment Site27,000 SF
Sold 10/03/2023
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$68
Total Square Footage:27,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$98,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,572.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,769.94
Annual Debt Service$105,239.33
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