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2649 Middle River Drive

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

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

2649 Middle River Drive

$16,000,000

$200/SF

Building Size

80,000 SF

Asset Type

MultiFamily

Closing

May 20, 2020

AI

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

Inbal Ruiz

Broker

$56.1M

vol

5 deals

Broker
Maor Benami

Maor Benami

Pulso Capital

Buyer

$75.5M

vol

5 deals

Buyer

Fort 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

0.99%

Cash-on-Cash

-0.28%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93