Tal Levinson & Eric Malinasky Acquire Development Site In Fort Lauderdale For $3.25M
SOLD
Florida
See Similar DealsDevelopment Site31,125 SF
Sold 11/14/2023
SOLD
Tal Levinson & Eric Malinasky Acquire Development Site In Fort Lauderdale For $3.25M
720 Northwest 3rd Street
See Similar DealsDevelopment Site31,125 SF
Sold 11/14/2023
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$104
Total Square Footage:31,125 SF
Transaction Type:Sale
A development site located at 720 Northwest 3rd Street in Fort Lauderdale has been sold for $3,250,000. The property spans across 31,125 square feet, resulting in a price per square foot of $104.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $3,250,000
- Address: 720 Northwest 3rd Street, Fort Lauderdale
- Market: Fort Lauderdale
- Buyer: Tal Levinson & Eric Malinasky
- Seller: Robert Larsen
- Square Footage: 31,125
- Price per Square Foot: $104
The acquisition was made by Tal Levinson and Eric Malinasky, while the property was sold by Robert Larsen.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$173,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,546.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,406.66
Annual Debt Service$184,879.90
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