Updated Dec 4, 2024
American Landmark Apartments Acquires 224-Unit Multifamily In North Lauderdale For $60.5M
1949 Cove Lake Road, North Lauderdale, Florida 33068, United States
$60,500,000
Units
224
Asset Type
MultiFamily
Closing
Aug 11, 2022
About this deal
AI
The multifamily property located at 1949 Cove Lake Rd in North Lauderdale has been sold in a recent transaction. The property consists of 224 units, with each unit priced at an average of $270,089. The total sale price for the property was $60,500,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $60,500,000
- Address: 1949 Cove Lake Rd
- Market: North Lauderdale
American Landmark Apartments purchased the property from David N. Koury, Amin J. Koury, Richard S. Cohen, Charles F. Cohen, Robert L. Crandall, and Jeffrey A. Levitetz. They represented the buyer in the deal.
On the Map
$60,500,000
MultiFamily
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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
0.26%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93