David Seda Purchases Royal Oaks Multifamily Community In Hollywood For $32 Million

The transaction involved a multifamily asset located at 3200 Stirling Road in Hollywood, consisting of 69 units spanning a total of 116,886 square feet. The sale price of the property was $32,000,000, resulting in a price per unit of $463,768 and a price per square foot of $273.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $32,000,000
• Units: 69
• Square Footage: 116,886
• Price Per Unit: $463,768
• Price Per Square Foot: $273
• Buyer: David Seda
• Brokers: Virgilio Fernandez, Alain Crego & Mitash Kripalani - Cushman & Wakefield

Virgilio Fernandez and Mitash Kripalani co-lead the Land & Multifamily Investment Sales team at Cushman & Wakefield. They were joined by Alain Crego in representing the parties in this all-cash 1031 exchange transaction, which achieved a record price per unit for the submarket and a sub-5% capitalization rate, reflecting the strong investor demand for multifamily assets in South Florida.