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Maor Benami & Salomon Kamkhaji Acquire Multifamily Portfolio In Fort Lauderdale For $16M

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SOLD
$16,000,000
Maor Benami

Florida

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MultiFamily80,000 SF
Sold 05/20/2020
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Property Image
SOLD

Maor Benami & Salomon Kamkhaji Acquire Multifamily Portfolio In Fort Lauderdale For $16M

2649 Middle River Drive

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MultiFamily80,000 SF
Sold 05/20/2020
Maor Benami
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$200
Total Square Footage:80,000 SF
Transaction Type:Sale

The multifamily property located at 2649 Middle River Dr., 1100 NE 12th Ave., 1227 NE 11th Ave., 901 NE 16th Ave., 737 NE 7th Avenue, 1150 NE 17th Ct., 1151 NE 17th Ct., 1401 NE 17th Ct., 2200 NE 9th Avenue, 909 NE 22nd Dr., 917-921 NE 22nd Dr., and 4655 Bougainvilla Dr. in Fort Lauderdale has been sold in a transaction.

Summary of Transaction Details:

  • Property Type: Multifamily
  • Transaction Amount: $16,000,000
  • Square Footage: 80,000 SF
  • Price per Square Foot: $200
  • Number of Units: 117
  • Price per Unit: $136,752

The buyers of the property are Maor Benami and Salomon Kamkhaji, while the seller is Richard Emmert. The transaction was facilitated by Inbal Ruiz from Inbal Ruiz @InbalBorkow.

Players

5 deals$56.1M volume(786) 991-6116
BROKER

Maor Benami
5 deals$75.5M volume
BUYER

Details

SOLD
IMAGE: Salomon Kamkhaji, Maor Benami & Inbal Ruiz DATE: 05/20/2021 ADDRESS: 2649 Middle River Dr., 1100 NE 12th Ave., 1227 NE 11th Ave., 901 NE 16th Ave., 737 NE 7th Avenue, 1150 NE 17th Ct., 1151 NE 17th Ct., 1401 NE 17th Ct., 2200 NE 9th Avenue, 909 NE 22nd Dr., 917-921 NE 22nd Dr., & 4655 Bougainvilla Dr. MARKET: Fort Lauderdale ASSET TYPE: Multifamily BUYER: Maor Benami & Salomon Kamkhaji SELLER: Richard Emmert BROKER: Inbal Ruiz @InbalBorkow SALE PRICE: $16,000,000 SF:  80,000 ~ PPSF: $200 UNITS: 117 ~ PPU: $136,752

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$853,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$56,844.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$75,848.16
Annual Debt Service$910,177.95