Norland Acquires Multifamily Property In Jupiter For $138.5M With Buyer's Rep Lawrence R. Gottesdiener & Seller Mann Realty Associates

A multifamily property located at 111 Sierra Dr in Jupiter has recently been sold for a price of $138,500,000. The transaction took place on 03/21/2022 and involved a total of 352 units, resulting in a per unit price of $393,466. The buyer of the property was Norland, represented by Lawrence R. Gottesdiener. The seller was Mann Realty Associates. Equitable Financial Life Insurance Co. served as the lender for this transaction.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $138,500,000
• Date: 03/21/2022
• Address: 111 Sierra Dr
• Market: Jupiter
• Units: 352
• Price Per Unit: $393,466
• Buyer: Norland - Lawrence R. Gottesdiener
• Seller: Mann Realty Associates
• Lender: Equitable Financial Life Insurance Co.

The acquisition was facilitated by Norland, a real estate investment company, with Lawrence R. Gottesdiener representing their interests. The seller, Mann Realty Associates, successfully closed the deal with the assistance of their brokers. Equitable Financial Life Insurance Co. provided the necessary financing for the transaction. The sale of this multifamily property represents a significant investment opportunity in the thriving Jupiter market.