FundRebel Acquires Hollywood Multifamily For $62M From Jackson Street Development | 320 Federal Highway | MultiFamily | Sale

Summary

Sale

FLORIDA

MultiFamily

248,000 sqft

The property at 320 Federal Highway in Hollywood was recently sold in a multifamily transaction. The 12-story building consists of 204 units with a total square footage of 248,000 and a price per square foot of $250, resulting in a sale price of $62,000,000.

Summary of transaction details:

Property Type: Multifamily
Transaction Amount: $62,000,000
Units: 204
Price per Unit: $303,922
Square Footage: 248,000
Address: 320 Federal Highway
Market: Hollywood

The sale was facilitated by the buyer group consisting of Mark Drachman, Allen Konstam, Husein I. Sonara, Al Spahn, Steve Neumann, and Daniel Briggs, operating under the entity FundRebel. They acquired the property from the seller, Giuseppe Ladisernia of Jackson Street Development. The building offers a mix of residential and commercial spaces, strategically located in downtown Hollywood, Florida, known for its rapid real estate growth and vibrant business environment.

Details

Deal Summary

SOLD

IMAGE: Husein I. Sonara, Al Spahn, Steve Neumann, Mark Drachman, Allen Konstam & Daniel Briggs DATE: 03/12/2024 ADDRESS: 320 Federal Highway MARKET: Hollywood ASSET TYPE: Multifamily BUYER: Mark Drachman, Allen Konstam, Husein I. Sonara, Al Spahn, Steve Neumann & Daniel Briggs - FundRebel (@FundRebels) SELLER: Giuseppe Ladisernia - Jackson Street Development SALE PRICE: $62,000,000 UNITS: 204 ~ PPU: $303,922 SF: 248,000 ~ PPSF: $250 NOTE FROM BUYER: Nine Hollywood is a 12-story ground-up new construction of a premier 204-unit apartment residential building with ground-floor commercial space. The building hosts a wealth of amenities and services, elevating the resident’s lifestyle. The building contains a total rentable area of 123,262 sqft, including 7,142 sqft of subdividable commercial space. The building at 1809 Jackson Street and 320 South Federal Highway is just south of Young Circle and Arts Park in the heart of downtown Hollywood, Florida. The Downtown Hollywood area is one of the fastest-growing real estate markets in South Florida due to favorable pro-business public policies, growing vibrant and diverse demographics, and a thriving economy of local small to mid-sized businesses.

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Address320 Federal Highway

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