Jonathan Shechtman And Brian Kennedy Acquire Multifamily Asset In Naples For $50.4M
SOLD
$50,400,000
Florida
See Similar DealsMultiFamily233,280 SF
Sold 10/07/2025
SOLD
Jonathan Shechtman And Brian Kennedy Acquire Multifamily Asset In Naples For $50.4M
4539 Coral Palms Lane
See Similar DealsMultiFamily233,280 SF
Sold 10/07/2025
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$216
Total Square Footage:233,280 SF
Transaction Type:Sale
The transaction involved a multifamily asset located at 4539 Coral Palms Lane in Naples, which consists of 288 units and totals 233,280 square feet. The sale was finalized for a price of $50,400,000, reflecting a price per unit of $175,000 and a price per square foot of $216.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $50,400,000
- Address: 4539 Coral Palms Lane
- Market: Naples
- Units: 288
- Square Footage: 233,280
- Price Per Unit: $175,000
- Price Per Square Foot: $216
- Buyer: Jonathan Shechtman & Brian Kennedy - Sharp Key Capital
- Seller: TE Miller
- Brokers: Jamie May & Eddie Yang - JBM Institutional Multifamily Advisors
In this transaction, Jonathan Shechtman and Brian Kennedy represented Sharp Key Capital as the buyers. On the selling side, TE Miller was the seller. Jamie May and Eddie Yang from JBM Institutional Multifamily Advisors acted as brokers, facilitating the deal between the buyer and seller.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,688,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$179,060.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$238,921.71
Annual Debt Service$2,867,060.55
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