Updated Sep 5, 2024
Martin J. Goldstein & Russell L. Goldstein Acquire MultiFamily Asset In Pompano Beach For $24.1M
500 E McNab Rd Pompano Beach, FL 33060, USA
$24,100,000
$227/SF
Building Size
105,746 SF
Asset Type
MultiFamily
Closing
Aug 22, 2023
About this deal
AI
The property involved in this transaction is a MultiFamily asset located at 500 East McNab Road in Pompano Beach. The property consists of 124 units, with a price per unit (PPU) of $194,355. It spans a total area of 105,746 square feet, with a price per square foot (PPSF) of $228. The property was listed with an asking price of $26,000,000 and was ultimately sold for $24,100,000.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $24,100,000
- Address: 500 East McNab Road
- Market: Pompano Beach
- Units: 124
- Price per Unit: $194,355
- Total Square Footage: 105,746
- Price per Square Foot: $228
The transaction was facilitated by Martin J. Goldstein and Russell L. Goldstein of MRG Associates LLC. They served as the brokers in this deal, representing the property's seller and buyer. The involvement of these key individuals played a crucial role in the successful completion of the transaction.
On the Map
$24,100,000
$227/SF
MultiFamily
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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
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93