Dermot Company Acquires Multifamily Property In Boynton Beach For $143M
3501 North Federal Highway, Boynton Beach, FL, USA
$143,000,000
$2,607/SF
Building Size
54,840 SF
Asset Type
MultiFamily
Closing
Feb 16, 2021
AI
The multifamily property located at 3501 North Federal Highway & 3480 Old Dixie Highway in Boynton Beach has been sold for a price of $143,000,000. The property consists of 456 units, with a price per unit of $313,596.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $143,000,000
- Units: 456
- Price Per Unit: $313,596
- Address: 3501 North Federal Highway & 3480 Old Dixie Highway, Boynton Beach
The buyer of the property is Dermot Company, represented by Stephen Benjamin of Dermot Company. The seller of the property is Heitman Capital Management.
Boynton Beach MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93