Updated Nov 28, 2024
Li Bayan Acquires Fort Lauderdale Multifamily From The Related Group For $85M
400 Southwest 1st Avenue, Fort Lauderdale, FL, USA
$85,000,000
$340/SF
Building Size
250,000 SF
Asset Type
MultiFamily
Closing
Aug 18, 2020
About this deal
AI
The multifamily property located at 400 SW 1st Avenue in Fort Lauderdale has been sold for $85,000,000. The transaction involved the sale of a total of 249 units, resulting in a price per unit of $341,365.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $85,000,000
- Address: 400 SW 1st Avenue
- Market: Fort Lauderdale
The buyer of the property is Li Bayan, while the seller is The Related Group. The deal was completed on August 18, 2021. Notable individuals involved in the transaction include Jeff Blau, Jon Paul Pérez, Stephen Ross, and Jorge Pérez.
Players
Fort Lauderdale 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
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93