Dan Dratch, Ryan Wold & Alexander Gerdak Of Franklin Street Facilitate $7.15M Multifamily Sale In Fort Lauderdale
1790 Se 23rd Ave & 2323 Se 18th St, Fort Lauderdale, Fl 33316
$7,150,000
$424/SF
Building Size
16,833 SF
Asset Type
MultiFamily
Closing
Jun 8, 2026
AI
The property asset involved in the transaction is a MultiFamily asset located at 1790 Southeast 23rd Avenue & 2323 Southeast 18th Street in Fort Lauderdale. The sale price is $7,150,000 for a total of 24 units, with a price per unit of $297,916. The building spans 16,833 square feet, translating to a price per square foot of $424.76.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $7,150,000
- Units: 24
- Price Per Unit: $297,916
- Square Feet: 16,833
- Price Per Square Foot: $424.76
- Market: Fort Lauderdale
The individuals who facilitated this transaction include Dan Dratch, Ryan Wold, and Alexander Gerdak, representing Franklin Street in the deal. Their involvement highlights the professional collaboration in managing the complexities of this MultiFamily property sale.
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
2.22%
Cash-on-Cash
-0.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93