JSB Capital Group Acquires Multifamily Property In Fort Lauderdale For $150M
3700 Pacific Point Pl, Lauderdale Lakes, Florida 33309, United States
$150,000,000
$1,590/SF
Building Size
94,311 SF
Asset Type
MultiFamily
Closing
Jun 2, 2022
AI
A multifamily property located at 3700 Pacific Point Pl in Fort Lauderdale has been sold for $150,000,000. The property consists of 420 units with an average price per unit of $357,143. It spans across 94,311 square feet, resulting in a price per square foot of $1,590.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $150,000,000
- Address: 3700 Pacific Point Pl
- Market: Fort Lauderdale
The buyer in this transaction was JSB Capital Group. Meyer Futersak from Cedarwood represented the buyer as their broker in the deal.
Players
Fort Lauderdale 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
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93