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2690 Drew Street, Clearwate...

Infinity BH LLC Acquires Multifamily Property In Clearwater For $57.5M
SOLDMultiFamily

Infinity BH LLC Acquires Multifamily Property In Clearwater For $57.5M

2690 Drew Street, Clearwater, FL, USA

$57,500,000

$1,650/SF

Building Size

34,844 SF

Asset Type

MultiFamily

Closing

Jan 19, 2021

AI

In a recent transaction in Clearwater, a multifamily property located at 2690 Drew Street was sold for a staggering price of $57,500,000. The property consists of 456 units, with a per unit price of $126,096. The sale took place on January 20, 2021.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $57,500,000
  • Address: 2690 Drew Street
  • Market: Clearwater
  • Buyer: Infinity BH LLC
  • Seller: BH Equities
  • Broker: Jason Stanton & Cole Whitaker - Berkadia
  • Units: 456
  • Price Per Unit: $126,096

The sale was facilitated by Jason Stanton & Cole Whitaker from Berkadia. Their expertise and negotiation skills played a crucial role in the successful completion of this high-value transaction.

Players

Cole Whitaker

Berkadia

Broker

$888.2M

vol

17 deals

Broker
BE
BH EquitiesSeller

Clearwater 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

0.28%

Cash-on-Cash

-0.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93