Portopiccolo Group Acquires Tarpon Springs Multifamily For $41.6M
SOLD
$41,570,000
Florida
See Similar DealsMultiFamily
Sold 04/07/2022
SOLD
Portopiccolo Group Acquires Tarpon Springs Multifamily For $41.6M
1589 Starlight Cove, Tarpon Springs, FL 34689, United States
See Similar DealsMultiFamily
Sold 04/07/2022
Summary
FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily property located at 1589 Starlight Drive in Tarpon Springs has been sold for a total price of $41,570,000. The property consists of 304 units, making the per unit price approximately $136,743. Simcha Hyman and Naftali Zanziper from the Portopiccolo Group acted as the buyers in this transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $41,570,000
- Units: 304
- Price Per Unit: $136,743
The buyers in this transaction, Simcha Hyman and Naftali Zanziper, are represented by the Portopiccolo Group. They successfully acquired the multifamily property located at 1589 Starlight Drive in Tarpon Springs.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,217,066.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$147,689.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$197,063.01
Annual Debt Service$2,364,756.10
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