Dermot Company Acquires Multifamily Property In Boynton Beach For $143M
SOLD
$143,000,000
Florida
See Similar DealsMultiFamily54,840 SF
Sold 02/17/2021
SOLD
Dermot Company Acquires Multifamily Property In Boynton Beach For $143M
3501 North Federal Highway, Boynton Beach, FL, USA
See Similar DealsMultiFamily54,840 SF
Sold 02/17/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$2,607
Total Square Footage:54,840 SF
Transaction Type:Sale
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.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Buyers
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Top Markets for Multifamily Investment ReportFall 2025
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,626,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$508,048.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$677,892.96
Annual Debt Service$8,134,715.46
Is there something missing? Send suggestions