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
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