Updated Oct 29, 2024
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
About this deal
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.
On the Map
$66,500,000
$283/SF
MultiFamily
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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