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1551 Northwest 13th Street,...

Updated Oct 28, 2024

Rental Asset Management Acquires Multifamily Property In Boca Raton For $20M
SOLDMultiFamily

Rental Asset Management Acquires Multifamily Property In Boca Raton For $20M

1551 Northwest 13th Street, Boca Raton, FL, USA

$20,000,000

$236/SF

Building Size

84,510 SF

Asset Type

MultiFamily

Closing

Aug 1, 2021

About this deal

AI

Located at 1551-1601 NW 13th St in Boca Raton, this multifamily property has been sold for $20,000,000. The transaction took place on 08/02/2021.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $20,000,000
  • Units: 84
  • Price Per Unit: $238,095
  • Acres: 6.7
  • Price Per Acre: $2,985,075
  • Market: Boca Raton

Rental Asset Management acquired the property from 3T Country Club Village, represented by Oded Meltzer. The mortgage brokers involved in the deal were Mitch Sinberg and Matthew Robbins from Berkadia.

The multifamily sale at 1551 Northwest 13th Street, Boca Raton, FL, USA in Boca Raton, Florida sold for $20M in 2021. Reported inventory is 84,510 square feet across 84 units, or about 236 per square foot. Mitch Sinberg, Matthew (Matt) Robbins, Oded Meltzer, Berkadia appear on the sale alongside Berkadia. This page is the Boca Raton, Florida file for the 1551 Northwest 13th Street, Boca Raton, FL, USA multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Boca Raton sit in the Market section below. Filter that Boca Raton multifamily set by closing date to see what else sold near 1551 Northwest 13th Street, Boca Raton, FL, USA around 2021. Published consideration for 1551 Northwest 13th Street, Boca Raton, FL, USA is $20M, dated 2021. Cite this Rental Asset Management Acquires Multifamily Property In Boca Raton For $20M sale when underwriting similar multifamily product around Boca Raton, Florida.

On the Map

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$20,000,000

$236/SF

MultiFamily

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Players

Mitch Sinberg

Berkadia

Broker

$9B

vol

146 deals

Broker
RM
Rental Asset ManagementBuyer

Oded Meltzer

Country Club Village

Seller

$40M

vol

2 deals

Seller
Bilt advertisement

Boca Raton MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $236 per square foot on a published $20M for 84,510 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.79%

Cash-on-Cash

-0.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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