Cresthaven APTS LLC Purchases Multifamily Property In Pompano Beach For $14.3M From Cresthaven Villas LLC
2920 Northeast 7th Terrace
$14,300,000
$245/SF
Building Size
58,147 SF
Asset Type
MultiFamily
Closing
May 5, 2025
AI
A 62-unit multifamily assemblage located at 2920-2961 & 3031-3231 Northeast 7th Avenue in Pompano Beach has been sold for $14,300,000. The asset, which spans 58,147 square feet and occupies 3.54 acres, last changed hands for $14 million in January 2025.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $14,300,000
- Buyer: Cresthaven APTS LLC
- Seller: Cresthaven Villas LLC
- Broker: Dillon Majeski - Marcus & Millichap
- Lender: Encore Finance
- Units: 62
- PPU: $230,645
- SF: 58,147
- PPSF: $246
- Acres: 3.54
Dillon Majeski from Marcus & Millichap represented the buyer, Cresthaven APTS LLC, in the transaction. The deal included $10 million in new debt from Encore Finance.
Players
Pompano Beach MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.11%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93