Updated Oct 28, 2024
Snell Properties Acquires 228-Unit Multifamily In Sarasota For $80M
320 Central Avenue
$80,000,000
$46,783/SF
Building Size
1,710 SF
Asset Type
MultiFamily
Closing
Apr 30, 2021
About this deal
AI
Located at 320 Central Avenue in Sarasota, this recently closed transaction involved the sale of a multifamily property. The deal was finalized on April 30, 2021.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $80,000,000
- Units: 228
- Price per Unit: $350,877
- Market: Sarasota
The buyer of the property was Snell Properties, represented by Chris Hanessian and Michael Eastwood. Serving as brokers in the deal were Brian Moulder and Chris Chadbourne from Walker & Dunlop.
This transaction highlights the successful collaboration between Snell Properties and their representatives, Chris Hanessian and Michael Eastwood. The deal was facilitated by the expertise of Brian Moulder and Chris Chadbourne from Walker & Dunlop.
Players
Sarasota MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Chris Chadbourne to view all their deals.
Browse Sarasota multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93