Updated Oct 28, 2024
Avanti Residential Acquires Multifamily Property In Boynton Beach For $105M
101 South Federal Highway, Boynton Beach, FL, USA
$105,000,000
$110,526/SF
Building Size
950 SF
Asset Type
MultiFamily
Closing
Jun 28, 2020
About this deal
AI
An apartment complex located at 101 South Federal Highway in Boynton Beach has been sold in a recent transaction. The multifamily property was bought by Avanti Residential from the seller, LeCesse Development Corporation. The sale took place on June 28, 2021, for a total price of $105,000,000. The apartment complex comprises 341 units, resulting in a price per unit of $307,918. Spanning across 4.5 acres of land, the property had a price per acre of $23,333,333.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $105,000,000
- Address: 101 South Federal Highway, Boynton Beach
- Market: Boynton Beach
- Buyer: Avanti Residential
- Seller: LeCesse Development Corporation
- Units: 341
- Price Per Unit: $307,918
- Acres: 4.5
- Price Per Acre: $23,333,333
Salvador F. Leccese and Christian Garner were the representatives involved in the transaction.
Players
Boynton Beach MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
About $110.5K per square foot on a published $105M for 950 square feet (2020).
Browse Florida multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93