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Vinod Kulhari & Paul Hassebroek Acquire 73-unit Multifamily In Wilton Manors For $11M

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SOLD
$11,000,000
Dan Dratch
Travis Jones
+ 2

Florida

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MultiFamily52,686 SF
Sold 02/05/2021
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SOLD

Vinod Kulhari & Paul Hassebroek Acquire 73-unit Multifamily In Wilton Manors For $11M

2625 North Andrews Avenue, Wilton Manors, FL, USA

See Similar Deals
MultiFamily52,686 SF
Sold 02/05/2021
Dan Dratch
Travis Jones
+ 2
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$208
Total Square Footage:52,686 SF
Transaction Type:Sale

The property involved in this transaction is a multifamily asset located at 2625-2647 N Andrews Ave in Wilton Manors. It consists of 73 units with a total rentable square footage of 52,686. The sale price for this property was $11,000,000, resulting in a price per unit (PPU) of $150,685 and a price per rentable square foot (PPRSF) of $209. The property was sold by Tamuz Real Estate to Vinod Kulhari and Paul Hassebroek. The transaction was facilitated by brokers Dan Dratch, Ryan Wold, Travis Jones, and Greg Matus from Franklin Street_SFL.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $11,000,000
  • Address: 2625-2647 N Andrews Ave
  • Market: Wilton Manors
  • Units: 73
  • Price per Unit (PPU): $150,685
  • Rentable Square Footage (RSF): 52,686
  • Price per Rentable Square Foot (PPRSF): $209
  • Seller: Tamuz Real Estate
  • Buyer: Vinod Kulhari & Paul Hassebroek
  • Brokers: Dan Dratch, Ryan Wold, Travis Jones, and Greg Matus from FranklinStreet_SFL

In this transaction, Vinod Kulhari and Paul Hassebroek purchased the multifamily property located at 2625-2647 N Andrews Ave in Wilton Manors from Tamuz Real Estate. The property features 73 units and a total rentable square footage of 52,686. The sale price was $11,000,000, resulting in a price per unit (PPU) of $150,685 and a price per rentable square foot (PPRSF) of $209. The deal was facilitated by brokers Dan Dratch, Ryan Wold, Travis Jones, and Greg Matus from Franklin Street_SFL.

Players

Greg Matus
39 deals$386.5M volume
BROKER

Travis Jones
Horvath & Tremblay
9 deals$45.5M volume
BROKER

Dan Dratch
Franklin Street
48 deals$267.8M volume
BROKER

Ryan Wold
Franklin Street
40 deals$210.5M volume(954) 312-1678
BROKER

Details

SOLD
IMAGE: Greg Matus, Travis Jones, Dan Dratch & Ryan Wold DATE: 02/05/2021 ADDRESS: 2625-2647 N Andrews Ave MARKET: Wilton Manors ASSET TYPE: Multifamily BUYER: Vinod Kulhari & Paul Hassebroek SELLER: Tamuz Real Estate BROKERS: Dan Dratch, Ryan Wold, Travis Jones & Greg MatusĀ @FranklinStreet_SFL SALE PRICE: $11,000,000 UNITS: 73 ~ PPU: $150,685 RSF: 52,686 ~ PPRSF: $209 CAP RATE: 5.1%

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$39,080.67
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