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
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