Updated Nov 28, 2024
Sterling Equities Acquires Multifamily Property In Fort Lauderdale For $92.4M
408 Northeast 6th Street, Fort Lauderdale, FL, USA
$92,400,000
$80,278/SF
Building Size
1,151 SF
Asset Type
MultiFamily
Closing
Jan 6, 2021
About this deal
AI
Located at 408 NE 6th Street in Fort Lauderdale, this multifamily property was recently sold in a closed transaction. The property consists of 286 units and was sold for a price of $92,400,000, resulting in a price per unit of $323,077.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $92,400,000
- Address: 408 NE 6th Street, Fort Lauderdale
- Market: Fort Lauderdale
The buyer in this transaction was Sterling Equities, represented by Fred Wilpon. The seller was PGIM, represented by Eric Adler.
On the Map
$92,400,000
$80,278/SF
MultiFamily
View full map
Players
Fort Lauderdale MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Fred Wilpon to view all their deals.
Browse Florida multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93