Entourage Florida Development Acquires 0.94 Acre Development Site In Pompano Beach For $9.3M
407 North Riverside Drive
$9,300,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 4, 2022
AI
A development site located at 407-419 N Riverside Dr in Pompano Beach has been sold for a price of $9,300,000. The property spans approximately 0.94 acres and was purchased by Entourage Florida Development, represented by Jean Campeau. The seller of the site was Beztak Companies. The transaction was facilitated by brokers Gerard Yetming and Julian Zuniga from Colliers International.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $9,300,000
- Address: 407-419 N Riverside Dr, Pompano Beach
- Market: Pompano Beach
- Buyer: Entourage Florida Development - Jean Campeau
- Seller: Beztak Companies
- Brokers: Gerard Yetming & Julian Zuniga - Colliers International
The buyer, Entourage Florida Development, was represented by Jean Campeau in the transaction. The seller, Beztak Companies, agreed to the sale of the development site. The deal was successfully facilitated by Gerard Yetming and Julian Zuniga of Colliers International, who acted as the brokers for the transaction.
Players
Market 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
1.71%
Cash-on-Cash
-0.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93