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2625 North Andrews Avenue, ...

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

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

2625 North Andrews Avenue, Wilton Manors, FL, USA

$11,000,000

$208/SF

Building Size

52,686 SF

Asset Type

MultiFamily

Closing

Feb 4, 2021

AI

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

Franklin Street

Broker

$386.5M

vol

39 deals

Broker

Paul Hassebroek

Buyer

$16.1M

vol

2 deals

Buyer

Wilton Manors MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.44%

Cash-on-Cash

-0.41%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93