Updated Oct 28, 2024
Beztak And Wexford Real Estate Investors Acquire Development Site In Boca Raton For $12.65M
NW 65th St & Congress AveBoca Raton, FL 33499
$12,650,000
$44/SF
Building Size
282,850 SF
Asset Type
Development Site
Closing
Dec 15, 2021
About this deal
AI
The development site located at the Southwest Corner of Congress Avenue and Northwest 65th Street in Boca Raton has been sold. The property spans over 4.1 acres and is listed as a development site.
Summary of Transaction Details:
- Property Type: Development Site
- Sale Price: $12,650,000
- Building Square Footage: 282,850
- Price per Buildable Square Foot: $45
- Transaction Date: 12/15/2021
- Market: Boca Raton
The buyers involved in the transaction were Beztak represented by Sam Beznos, and Wexford Real Estate Investors represented by Joseph Jacobs and Philip Braunstein. They purchased the property from Catexor, with Stig and Britt Wennerstrom serving as the sellers.
Players
Miami 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
1.25%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93