Neil Lalwani And Sonny Lalwani Purchase Multifamily Asset In Lake Worth Beach For $3.4M

The asset involved in this transaction is a multifamily property located at 35 South J Street in Lake Worth Beach. The sale price was $3,400,000, featuring 25 units and a total square footage of 12,750. The price per unit stands at $136,000, while the price per square foot is $266.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,400,000
• Units: 25
• Square Footage: 12,750
• Price Per Unit: $136,000
• Price Per Square Foot: $266
• Buyer: Neil Lalwani & Sonny Lalwani
• Seller: Michael Davis
• Buyer's Representative: Evan Richardson, River Rhoads & Daniel J. Cunningham - Marcus & Millichap
• Seller's Representative: Calum Weaver & Perry Synanidis - CBRE

This transaction was facilitated by collaboration between CBRE's Calum Weaver and Perry Synanidis with Marcus & Millichap's Daniel Cunningham, Evan Richardson, and River Rhoads. The deal was executed smoothly with a 1031 exchange buyer who closed at the contracted price.