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3050 Northwest 68th Street,...

Vino Kulhari Acquires Palm Aire Multifamily In Fort Lauderdale For $7M
SOLDMultiFamily

Vino Kulhari Acquires Palm Aire Multifamily In Fort Lauderdale For $7M

3050 Northwest 68th Street, Fort Lauderdale, FL, USA

$7,000,000

$352/SF

Building Size

19,838 SF

Asset Type

MultiFamily

Closing

Aug 27, 2021

AI

Located at 3050 NW 68th St. in Palm Aire, Fort Lauderdale, this multifamily property has recently been sold in a closed transaction. The sale took place on 08/27/2021, with a sale price of $7,000,000. The property spans 19,838 square feet, resulting in a price per square foot of $353.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $7,000,000
  • Address: 3050 NW 68th St., Palm Aire, Fort Lauderdale
  • Market: Palm Aire, Fort Lauderdale

The buyer in this transaction is Vino Kulhari of Terra Equity Group, while the sellers are Noah Leon and Steven Guasch of Defined Companies. Representing the buyer, Dan Dratch and Greg Matus of Franklin Street played a crucial role in the deal. On the other hand, Tal Frydman of Newmark acted as the seller's representative.

Players

Greg Matus

Franklin Street

Broker

$386.5M

vol

39 deals

Broker
TG
Terra Equity GroupBuyer

Noah Leon

Defined Companies

Seller

$14M

vol

2 deals

Seller

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

2.27%

Cash-on-Cash

-0.65%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93