Howard Lutnick Of Cantor Fitzgerald Acquires Multifamily Community In Tampa For $100.4M
5350 Bridge Street
$100,400,000
Units
351
Asset Type
MultiFamily
Closing
Oct 9, 2025
AI
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.
Players
Tampa 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
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93