Updated Dec 4, 2024
Aimco Acquires Development Site In Fort Lauderdale For $20M
845 NE 5th Terrace Fort Lauderdale, FL 33304, USA
$20,000,000
Building Size
—
Asset Type
Development Site
Closing
Jul 28, 2022
About this deal
AI
A development site located at 845 Northeast Fifth Terrace in Fort Lauderdale has been sold for $20,000,000. The property, spanning approximately 1.7 acres, was acquired by Aimco, represented by Wes Powell. The seller, Raanan Katz, was represented by RK Centers. Wes Powell captured an image of the property for the Instagram post.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $20,000,000
- Address: 845 Northeast Fifth Terrace
- Market: Fort Lauderdale
- Approximate Size: 1.7 acres
- Buyer: Aimco - Wes Powell
- Seller: Raanan Katz - RK Centers
The sale of the development site in Fort Lauderdale was facilitated by Wes Powell from Aimco and involved Raanan Katz from RK Centers. Wes Powell's Instagram post provides a visual representation of the property and showcases the successful acquisition by Aimco. The transaction brought together these key individuals and companies in the real estate deal.
On the Map
$20,000,000
Development Site
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Players
Fort Lauderdale Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93