Updated Oct 28, 2024
Cochise Capital Acquires Multifamily Property In Fort Lauderdale For $19.5M
1401 Southeast 15th Street, Fort Lauderdale, Florida 33316, United States
$19,500,000
$420/SF
Building Size
46,343 SF
Asset Type
MultiFamily
Closing
Sep 29, 2022
About this deal
AI
The multifamily property located at 1401 SE 15th Street in Fort Lauderdale has been sold for a price of $19,500,000. The property spans an area of 1 acre and comprises 58 units with a total square footage of 46,343. The sale price per unit stands at $336,207, while the price per square foot is $421.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $19,500,000
- Address: 1401 SE 15th Street, Fort Lauderdale
- Market: Fort Lauderdale
- Acres: 1
The buyer of the property is Cochise Capital, represented by David Talla. The seller is Cordova Arms LLC, with Ralph Doering III as their representative. The deal was facilitated by brokers George Coloney and Maggie Graham from the Coloney Group. The transaction was financed by First Republic Bank.
Players
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
0.81%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93