Updated Oct 29, 2024
Angelo Gordon & Co. Acquires Homestead Multifamily For $50.7M
1140 Southeast 24th Road, Homestead, FL, USA
$50,700,000
$5,513/SF
Building Size
9,196 SF
Asset Type
MultiFamily
Closing
Jan 3, 2021
About this deal
AI
Located at 1140 Southeast 24th Road in Homestead, this multifamily property was recently sold in a transaction valued at $50,700,000. The property consists of 292 units, resulting in a price per unit (PPU) of $173,630.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $50,700,000
- Address: 1140 Southeast 24th Road, Homestead
- Market: Homestead
- Units: 292
- Price Per Unit (PPU): $173,630
The buyer in this transaction was Angelo Gordon & Co., represented by Kirk Wickman. On the selling side, Fifteen Group, represented by David Hopkins, closed the deal.
Players
Homestead 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
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93