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150 Southeast 2nd Avenue, D...

TA Realty Acquires Delray Beach Multifamily For $82.8M With Buyer's Rep James Buckingham, Michael Haggerty & James Raisides And Seller Mesirow Financial Richard Price
SOLDMultiFamily

TA Realty Acquires Delray Beach Multifamily For $82.8M With Buyer's Rep James Buckingham, Michael Haggerty & James Raisides And Seller Mesirow Financial Richard Price

150 Southeast 2nd Avenue, Delray Beach, FL, USA

$82,800,000

Building Size

Asset Type

MultiFamily

Closing

Nov 4, 2021

AI

TA Realty has acquired a multifamily property in Delray Beach for the price of $82,800,000. The property, located at 150 Southeast Second Avenue and 151 Southeast Third Avenue, consists of 172 units. The sale price corresponds to an average per unit price of $481,395.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $82,800,000
  • Address: 150 Southeast Second Avenue & 151 Southeast Third Avenue, Delray Beach
  • Market: Delray Beach
  • Buyer: TA Realty - James Buckingham, Michael Haggerty & James Raisides
  • Seller: Mesirow Financial - Richard Price
  • Number of Units: 172
  • Price Per Unit: $481,395

The acquisition was made by TA Realty, with James Buckingham, Michael Haggerty, and James Raisides representing the buyer. On the seller's side, Richard Price represented Mesirow Financial in the transaction.

Players

James P. Raisides

TA Realty

Buyer

$129.6M

vol

3 deals

Buyer

Richard Price

Mesirow Financial

Seller

$384.3M

vol

4 deals

Seller

Delray 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

0.19%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93