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Martin J. Goldstein & Russell L. Goldstein Acquire MultiFamily Asset In Pompano Beach For $24.1M

Property Image
SOLD
$24,100,000
Martin J. Goldstein
Russell L. Goldstein

Florida

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MultiFamily105,746 SF
Sold 08/22/2023
the dealplayerscompscontact
Property Image
SOLD

Martin J. Goldstein & Russell L. Goldstein Acquire MultiFamily Asset In Pompano Beach For $24.1M

500 E McNab Rd Pompano Beach, FL 33060, USA

See Similar Deals
MultiFamily105,746 SF
Sold 08/22/2023
Martin J. Goldstein
Russell L. Goldstein
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$227
Total Square Footage:105,746 SF
Transaction Type:Sale

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.

Players

Martin J. Goldstein
The Goldstein Group
Martin J. Goldstein
1 deal$24.1M volume(561) 310-0935
BROKER
Russell L. Goldstein
The Goldstein Group
Russell L. Goldstein
1 deal$24.1M volume(561) 503-3648
BROKER

Details

SOLD
IMAGE: Martin J. Goldstein & Russell L. Goldstein DATE: 08/22/2023 ADDRESS: 500 East McNab Road MARKET: Pompano Beach ASSET TYPE: MultiFamily BROKERS: Martin J. Goldstein & Russell L. Goldstein - MRG Associates LLC ASKING PRICE: $26,000,000 SALE PRICE: $24,100,000 UNITS: 124 ~ PPU: $194,355 SF: 105,746 ~ PPSF: $228

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,285,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$85,622.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$114,246.30
Annual Debt Service$1,370,955.54