Updated Sep 11, 2026
Midtown Capital Partners Acquires Multifamily Property In Flagler Village, Fort Lauderdale For $64.5M
600 Northeast 3rd Avenue
$64,500,000
$339/SF
Building Size
190,000 SF
Asset Type
MultiFamily
Closing
Jul 22, 2022
About this deal
AI
The multifamily property located at 600 NE 3rd Ave in Flagler Village, Fort Lauderdale has been involved in a recent loan transaction. The property comprises 252 units and spans approximately 190,000 square feet.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $64,500,000
- Lender: Forum Real Estate Group and OZK
- Landlord: Midtown Capital Partners - Zach Fox, Alejandro Velez, and Alex Saieh; Prospect Real Estate Group - Richard Zahn and Navish Chawla
- Brokers: Dustin Stolly, Jordan Roeschlaub, Danny Matz, Nick Scribani, Daniel Fromm, and Dan Morin - Newmark
The loan for this transaction was in the amount of $64,500,000 and falls under the category of construction loans.
Players
Minneapolis 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
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93