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5750 Lakeside Dr, Margate, ...

David Lynd, David P. Zar & Shawn Hakimian Acquire Multifamily Property In Fort Lauderdale
SOLDMultiFamily

David Lynd, David P. Zar & Shawn Hakimian Acquire Multifamily Property In Fort Lauderdale

5750 Lakeside Dr, Margate, Florida, USA

$50,750,000

$216/SF

Building Size

234,320 SF

Asset Type

MultiFamily

Closing

Mar 16, 2021

AI

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.

Players

David Lichtenstein

Grand Peaks

Seller

$1.4B

vol

16 deals

Seller

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

0.31%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93