David Lynd, David P. Zar & Shawn Hakimian Acquire Multifamily Property In Fort Lauderdale
SOLD
$50,750,000
Florida
See Similar DealsMultiFamily234,320 SF
Sold 03/17/2021
SOLD
David Lynd, David P. Zar & Shawn Hakimian Acquire Multifamily Property In Fort Lauderdale
5750 Lakeside Dr, Margate, Florida, USA
See Similar DealsMultiFamily234,320 SF
Sold 03/17/2021
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$216
Total Square Footage:234,320 SF
Transaction Type:Sale
The multifamily property located at 5750 Lakeside Dr. in Fort Lauderdale, FL was recently sold in a transaction on March 17, 2021. The property, with a total square footage of 234,320, was sold for a price of $50,750,000, resulting in a price per square foot of $216.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $50,750,000
The buyer of the property was David Lynd from The Lynd Company, along with David P. Zar and Shawn Hakimian from NorthPoint Capital. The seller of the property was David Lichtenstein from Lightstone Group, representing Grand Peaks.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,706,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$180,304.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$240,580.89
Annual Debt Service$2,886,970.70
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