Updated Dec 4, 2024
180 Cypress Development Group Sells Hollybrook Homes Apartments In Jacksonville For $18M
104 King Street
$18,000,000
Units
182
Asset Type
MultiFamily
Closing
Oct 18, 2023
About this deal
AI
The 182-unit Hollybrook Homes Apartments at 104 King St. in Lackawanna, West Jacksonville, were sold for $18 million on Oct. 16. The buyer, 180 Cypress Development Group, purchased the property from the seller, Omni New York, through Hollybrook Homes Apartments LP. The per-unit price for the transaction was $92,901. The apartments range in size from 712 to 1,440 sq ft, with estimated rents between $950 and $1,299.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $18,000,000
- Address: 104 King Street
- Market: Jacksonville
- Acres: 13
- Buyer: 180 Cypress Development Group
- Seller: Omni New York
- Units: 182
- Price Per Unit: $92,901
The buyer, 180 Cypress Development Group, made the purchase through Hollybrook Homes Apartments LP. On the other side, the seller was Omni New York. This transaction showcases the involvement of key individuals and companies in the real estate deal.
On the Map
$18,000,000
MultiFamily
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Players
Jacksonville MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93