The multi-family property located at 311 Northwest 42nd Court in Pompano Beach has been sold in a closed transaction. The property consists of 156 units with a total square footage of 150,000. The sale price for this transaction was $24,600,000, equating to a per unit price of $157,692 and a price per square foot of $164.

Summary of transaction details

• Property Type: MultiFamily
• Transaction Amount: $24,600,000
• Units: 156
• Price per Unit: $157,692
• Total Square Footage: 150,000
• Price per Square Foot: $164
• Address: 311 Northwest 42nd Court, Pompano Beach
• Market: Pompano Beach

The buyer of this property is Category Five Real Estate, represented by Leon Peisach and Mike Peisach. Category Five Real Estate is a private equity firm based in South Florida, specializing in sourcing, acquiring, operating, and improving multifamily assets throughout the state. Yoav Yuhtman of Berkadia served as the broker for this transaction.

Category Five Real Estate is known for achieving superior returns through renovations that enhance tenant living experiences and benefit the surrounding communities. Their local presence, agility, and strong balance sheet provide a competitive advantage in closing deals, even in a challenging debt market. The acquisition of the San Marco property in Pompano Beach aligns with their investment strategy, and they are actively seeking additional opportunities in 2024.