Updated Nov 28, 2024
Kapp Morrison LLP Acquires Multifamily Property In Fort Lauderdale For $115M
416 Southwest 1st Avenue, Fort Lauderdale, FL, USA
$115,000,000
$56,874/SF
Building Size
2,022 SF
Asset Type
MultiFamily
Closing
Dec 8, 2021
About this deal
AI
An expansive multifamily property located at 416 SW 1st Ave in Fort Lauderdale has recently changed hands in a significant sale transaction. The property, comprising of 230 units, has been acquired by Kapp Morrison LLP at a price of $115,000,000. With a per-unit price of $500,000, this sale demonstrates the substantial value of the asset in the current market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $115,000,000
- Address: 416 SW 1st Ave
- Market: Fort Lauderdale
- Units: 230
- Price Per Unit: $500,000
The sale of the property was facilitated by the Related Group, represented by Jon Paul Pérez and Jorge Pérez. As notable figures in the industry, their involvement adds prestige to the transaction. The acquisition by Kapp Morrison LLP showcases their strong presence and investment in the real estate market.
Players
Fort Lauderdale MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Jorge Pérez 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
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93