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3609 High Ridge Road, Boynt...

Zoe, Gary & Susan Burchard Acquire Boynton Beach Multifamily For $71M
SOLDMultiFamily

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

Joe Lubeck

American Landmark Apartments

Broker

$563M

vol

11 deals

Broker
Grandbridge Real Estate Capital
Grandbridge Real Estate CapitalBrokerage
Joe Lubeck

Joe Lubeck

Seller

$563M

vol

11 deals

Seller
American Landmark Apartments
American Landmark ApartmentsSeller
Grandbridge Real Estate Capital
Grandbridge Real Estate CapitalLender

Boynton Beach MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

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