Updated Oct 29, 2024
Sterling Equities Acquires Multifamily Asset In Pompano Beach For $95.3M
1333 South Ocean Boulevard, Pompano Beach, FL, USA
$95,300,000
$12/SF
Building Size
7,481,841 SF
Asset Type
MultiFamily
Closing
Dec 10, 2020
About this deal
AI
Sterling Equities, led by Fred Wilpon, has acquired a multifamily property located at 1333 South Ocean Boulevard in Pompano Beach. The property, consisting of 211 units, was sold for a total price of $95,300,000, resulting in a per unit price of approximately $451,659.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $95,300,000
- Address: 1333 South Ocean Boulevard
- Market: Pompano Beach
The sale was facilitated by The Carlyle Group, represented by Kewsong Lee, and Merrimac Ventures, represented by Dev Motwani. Alliance Residential, represented by Bruce Ward, was also involved in the transaction as the seller.
On the Map
$95,300,000
$12/SF
MultiFamily
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Players
Pompano Beach 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
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93