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1719 Southeast 12th Court

Janus International Group Acquires Waterfront Land In Fort Lauderdale For $12M
SOLDLand

Janus International Group Acquires Waterfront Land In Fort Lauderdale For $12M

1719 Southeast 12th Court

$12,000,000

Building Size

Asset Type

Land

Closing

Apr 25, 2023

AI

A vacant lot in Fort Lauderdale has been sold for the price of $12,000,000. The property, located at 1719 Southeast 12th Court, spans approximately 0.4 acres and is situated in the Fort Lauderdale market. The sale was finalized on April 25, 2023.

Summary of transaction details

  • Property Type: Land
  • Transaction Amount: $12,000,000
  • Address: 1719 Southeast 12th Court
  • Market: Fort Lauderdale
  • Size: 0.4 acres

The buyer of the property is David Curtis, the founder of Janus International Group, a self-storage manufacturing company. David Curtis, along with his wife Vicki Curtis, acquired the vacant lot to add to their existing compound, expanding it to a total of 0.9 acres with over 595 feet of waterfront. The seller of the property is Victor and Anto Pekic, local real estate investors. Marc Brandt, from Douglas Elliman, represented both the buyer and the seller as the broker in this transaction.

This acquisition provides David Curtis with an opportunity to enhance his waterfront compound in Fort Lauderdale. The property boasts 250 feet of waterfront, further increasing the value and appeal of Curtis' expanded estate.

Players

Marc Brandt

Douglas Elliman

Broker

$112.2M

vol

9 deals

Broker

David Curtis

Buyer

$44.5M

vol

2 deals

Buyer

Fort Lauderdale Land Market Snapshot

Boundary boundary · Land · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.32%

Cash-on-Cash

-0.38%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93