Updated Oct 28, 2024
Eretzor Group Acquires Multifamily Property On 2700 Broadway In West Palm Beach For $6M
2700 Broadway, West Palm Beach, Florida 33407, United States
$6,000,000
$823/SF
Building Size
7,286 SF
Asset Type
MultiFamily
Closing
Mar 3, 2022
About this deal
AI
The multifamily property located at 2700 Broadway in the West Palm Beach market has been sold for a total of $6,000,000. Spanning across 0.8 acres of land, the property offers 10 units with a total square footage of 7,286. The price per unit for this transaction amounts to $600,000, while the price per square foot comes to $823.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,000,000
- Address: 2700 Broadway
- Market: West Palm Beach
- Total Acres: 0.8
Eretzor Group, along with Daniel Statlander from Stateland Brown Real Estate, acted as the buyers in this transaction. The lending institution involved was Banesco USA.
It is noteworthy that the property was captured in an image taken by Daniel Statlander, providing a visual representation of the asset.
Players
West Palm Beach 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
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93