L&L Holding Co. Acquires Multifamily Property In Palm Beach Gardens For $46.8M
SOLD
$46,800,000
Florida
See Similar DealsMultiFamily13,000 SF
Sold 12/14/2020
SOLD
L&L Holding Co. Acquires Multifamily Property In Palm Beach Gardens For $46.8M
3333 Central Gardens Circle, Palm Beach Gardens, FL, USA
See Similar DealsMultiFamily13,000 SF
Sold 12/14/2020
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$3,600
Total Square Footage:13,000 SF
Transaction Type:Sale
A multifamily property located at 3333 Central Gardens Circle in Palm Beach Gardens has been sold for $46,800,000. The property consists of 124 units, with a price per unit (PPU) of $377,419. The sale was completed on December 14, 2020.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $46,800,000
- Address: 3333 Central Gardens Circle
- Market: Palm Beach Gardens
- Number of Units: 124
- Price per Unit: $377,419
The buyer in this transaction was L&L Holding Co., while the seller was Schottenstein Real Estate. Brian Schottenstein, David Levinson, and Robert Lapidus represented the seller in the deal.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,496,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$166,270.51
Cash-on-Cash Return-1.27%
Monthly Debt Service$221,855.88
Annual Debt Service$2,662,270.51
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