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407 North Riverside Drive

Entourage Florida Development Acquires 0.94 Acre Development Site In Pompano Beach For $9.3M
SOLDMultiFamily

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

Julian Zuniga

Colliers

Broker

$102M

vol

16 deals

Broker

Jean Campeau

Buyer

$13.6M

vol

2 deals

Buyer

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