Updated Oct 28, 2024
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
$20,000,000
$236/SF
MultiFamily
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Players
Boca Raton 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
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93