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1 South Pine Island Road

Updated Jan 2, 2025

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

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

1 South Pine Island Road

$48,580,000

$167/SF

Building Size

289,558 SF

Asset Type

MultiFamily

Closing

Dec 24, 2024

About this deal

AI

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.

On the Map

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$48,580,000

$167/SF

MultiFamily

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Players

Customers Bank
Customers BankLender
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Plantation MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $167 per square foot on a published $48.6M for 289,558 square feet (2024).

Browse Plantation multifamily sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.33%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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