Zoe, Gary & Susan Burchard Acquire Boynton Beach Multifamily For $71M
3609 High Ridge Road, Boynton Beach, Florida 33426, United States
$71,000,000
$367/SF
Building Size
193,075 SF
Asset Type
MultiFamily
Closing
Sep 15, 2022
AI
3609 High Ridge Way in Boynton Beach has been sold for $71,000,000. This multifamily property consists of 184 units, with an average price per unit of $385,870. The transaction was completed on September 16, 2022. The buyer, Zoe, Gary & Susan Burchard, acquired the property from the seller, American Landmark - Joe Lubeck.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $71,000,000
- Units: 184
- Price Per Unit: $385,870
- Buyer: Zoe, Gary & Susan Burchard
- Seller: American Landmark - Joe Lubeck
Joe Lubeck, representing American Landmark, facilitated the sale of this property to Zoe, Gary & Susan Burchard. The transaction took place in the Boynton Beach market. This sale marks a significant deal in the multifamily real estate sector.
Players
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
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93