Howard Lutnick Of Cantor Fitzgerald Acquires Multifamily Community In Tampa For $100.4M

The transaction involved a 351-unit multifamily community located at 5350 Bridge Street in Tampa, covering an area of 12 acres. The sale price was recorded at $100.4 million, translating to approximately $286,040 per unit. The property, built in 2019, is known as The Residences at Westshore Marina and was acquired by Cantor Fitzgerald.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $100,400,000
• Buyer: Howard Lutnick - Cantor Fitzgerald
• Seller: Daniel Drimmer - Starlight Investments
• Broker: Newmark
• Lender: Freddie Mac
• Units: 351
• Price Per Unit: $286,040

Howard Lutnick represented the buyer, Cantor Fitzgerald, in this acquisition, while Daniel Drimmer represented the seller, Starlight Investments. The buyer secured a loan of $78.7 million from Freddie Mac through the brokerage services of Newmark to facilitate this transaction.