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
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