Updated Dec 21, 2023
Marcus & Millichap Capital Corporation Secures $16.5M Loan For Multifamily Portfolio In Fort Lauderdale, Deerfield Beach & Hallandale Beach
1400 Northeast 56th Street, Fort Lauderdale, Florida 33334, United States
$16,542,500
Units
101
Asset Type
MultiFamily
Closing
May 31, 2022
About this deal
AI
1400 NE 56th Street, 110 NE 19th Avenue, 108-128 NW 2nd Avenue & 102-108 NW 1st Street, 840 NE 17th Terrace in Fort Lauderdale, Deerfield Beach & Hallandale Beach is the location of a multifamily property with 101 units that recently underwent a closed transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $16,542,500
- Loan Amount: $16,542,500
- Loan Terms: 10-year non-recourse loans
- Average Loan-to-Value (LTV) Ratio: 65%
- Interest Rate: 3.52%
The financing for this property was secured through Robert Bhat from Marcus & Millichap Capital Corporation (MMCC). The loan terms include a 10-year non-recourse loan with an average LTV of 65% and an interest rate of 3.52%. The loans also have an interest-only period ranging from 3 to 5 years.
Fort Lauderdale MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.96%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93