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116 S Riverside Dr, Pompano...

Mike Talla, Brett Talla & Jared Talla Acquires 22-Unit Multifamily In Pompano Beach For $4.77M
SOLDMultiFamily

Mike Talla, Brett Talla & Jared Talla Acquires 22-Unit Multifamily In Pompano Beach For $4.77M

116 S Riverside Dr, Pompano Beach, FL, USA

$4,770,000

$253/SF

Building Size

18,800 SF

Asset Type

MultiFamily

Closing

Mar 2, 2021

AI

The multifamily property located at 116 S Riverside Dr in Pompano Beach has been sold. The property spans 18,800 square feet and consists of 22 units. It was built in 1970 and sits on a 0.54-acre lot. The sale price for this transaction was $4,770,000, resulting in a price per square foot of $254. The property was listed for an asking price of $4,900,000. The buyer of the property is Mike Talla, Brett Talla, and Jared Talla, while the sellers are Daniel Lebensohn, Gregory Freedman, and Yury Gnesin.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $4,770,000
  • Address: 116 S Riverside Dr, Pompano Beach
  • Market: Pompano Beach
  • Square Footage: 18,800
  • Units: 22
  • Asking Price: $4,900,000
  • Price per Square Foot: $254
  • Buyer: Mike Talla, Brett Talla, and Jared Talla
  • Seller: Daniel Lebensohn, Gregory Freedman, and Yury Gnesin

The sale transaction was facilitated by brokers Dan Dratch, Greg Matus, Travis Jones, Ryan Wold, and Joseph Landsberg from Franklin Street (@franklinstreet_sfl), who represented the respective parties involved in the deal.

Players

Greg Matus

Franklin Street

Broker

$386.5M

vol

39 deals

Broker

Yury Gnesin

Seller

$15.9M

vol

3 deals

Seller

Pompano Beach MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.33%

Cash-on-Cash

-0.95%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93