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1300 Northeast 3rd Street, ...

David Talla Acquires Multifamily Property In Fort Lauderdale For $10.15M
SOLDMultiFamily

David Talla Acquires Multifamily Property In Fort Lauderdale For $10.15M

1300 Northeast 3rd Street, Fort Lauderdale, Florida 33301, United States

$10,150,000

$483/SF

Building Size

21,011 SF

Asset Type

MultiFamily

Closing

Sep 28, 2022

AI

The multifamily property located at 1300 NE 3rd St in Fort Lauderdale, FL has been sold in a recent transaction. The sale took place on September 29, 2022, with David Talla purchasing the property from Ralph H Doering, III. The property spans across 21,011 square feet and was sold for a price of $10,150,000, resulting in a price per square foot of $483.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $10,150,000
  • Square Footage: 21,011
  • Price Per Square Foot: $483
  • Address: 1300 NE 3rd St, Fort Lauderdale, FL
  • Market: Fort Lauderdale, FL

David Talla represented himself as the buyer in this deal, while Ralph H Doering, III acted as the seller's representative. The transaction showcases the ongoing activity in the Fort Lauderdale market for multifamily properties.

Players

David M. Talla

Cochise Capital

Buyer

$44.7M

vol

4 deals

Buyer

Ralph H Doering, III

Seller

$29.7M

vol

2 deals

Seller

Fort Lauderdale 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

1.56%

Cash-on-Cash

-0.45%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93