Blackstone Acquires Multifamily Property In North Lauderdale For $14M
1850 Southwest 81st Avenue, North Lauderdale, Florida 33068, United States
$14,000,000
$197/SF
Building Size
71,023 SF
Asset Type
MultiFamily
Closing
Jan 18, 2022
AI
The multifamily property located at 1850-2100 Southwest 81st Avenue in North Lauderdale was recently sold for a total price of $14,000,000. The sale took place on January 18, 2022. The property consists of 322 units, which translates to an average price per unit of $43,478.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $14,000,000
- Address: 1850-2100 Southwest 81st Avenue
- Market: North Lauderdale
The buyer of the property was @Blackstone represented by Stephen A. Schwarzman. On the other hand, the seller was The Cornerstone Group.
Players
North 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
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93