Carroll Organization Acquires Margate Multifamily For $66.5M With Lynd Living And North Point Capital Group As Sellers
5750 Lakeside Drive
$66,500,000
$283/SF
Building Size
234,320 SF
Asset Type
MultiFamily
Closing
Nov 19, 2021
AI
David Lynd, David P. Zar, Shawn Hakimian, and Patrick Carroll were involved in the sale of a multifamily property located at 5750 Lakeside Dr in Margate, FL. The transaction took place on November 19, 2021.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $66,500,000
- Address: 5750 Lakeside Dr, Margate, FL
- Market: Margate, FL
- Buyer: Carroll Organization - Patrick Carroll
- Seller: Lynd Living - David Lynd, North Point Capital Group - David P. Zar & Shawn Hakimian
- Units: 280
- Price Per Unit: $237,500
- Square Footage: 234,320
- Price Per Square Foot: $284
The Lynd Company and North Point Capital Group had purchased this property 8 months ago for $50,750,000. This transaction marks a significant increase in the sale price, reflecting the potential value and growth opportunities associated with the property.
Players
Margate 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
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93