Jason Wisotsky And Zachary Murphy Acquire Multifamily Property In Plantation For $48.58M

The property involved in this transaction is a multifamily asset located at 1 South Pine Island Road in Plantation, encompassing 8.93 acres. The sale was finalized at a price of $48,580,000, featuring a total of 210 units. The property has a total square footage of 289,558, resulting in a price per unit of $231,333 and a price per square foot of $168.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $48,580,000
• Address: 1 South Pine Island Road
• Market: Plantation
• Acres: 8.93
• Units: 210
• Square Feet: 289,558
• Price per Unit: $231,333
• Price per Square Foot: $168
• Buyer: Jason Wisotsky - Four Corners; Zachary Murphy - REM Properties
• Seller: Arvind Reddy & Krishna Persaud - PBH Plantation LLC
• Lender: Customers Bank

The buyers, Jason Wisotsky and Zachary Murphy, have taken over the transaction, assuming a mortgage amount of $52.6 million from Customers Bank, along with the guarantor roles from the sellers, PBH Plantation LLC. This strategic acquisition reflects the buyers' focus on expanding their portfolio in the multifamily sector.