Updated Nov 28, 2024
Blackstone Real Estate Income Trust Acquires Multifamily Property In North Lauderdale For $26.7M
5301 West Mcnab Road, North Lauderdale, Florida 33068, United States
$26,740,000
$241/SF
Building Size
110,530 SF
Asset Type
MultiFamily
Closing
Jan 12, 2022
About this deal
AI
The multifamily property located at 5301 W. McNab Road in North Lauderdale has been sold in a transaction. The property spans across 16.9 acres and is part of the real estate market in North Lauderdale.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $26,740,000
- Date: 01/12/2022
- Address: 5301 W. McNab Road
- Market: North Lauderdale
- Acres: 16.9
The buyer of the property is Blackstone Real Estate Income Trust, represented by Stephen Schwarzman. The seller of the property is Cornerstone Group. The transaction took place at a sale price of $26,740,000. The property consists of 292 units, with an average price per unit of $91,575. The total area of the property is 302,920 square feet, with an average price per square foot of $88.
Players
North Lauderdale 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
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93