JSB Capital Group Purchases 197-Unit Multifamily Property From Stellar Communities For $69 Million

The multifamily property located at 5800 & 5840 Lakeshore Drive in Dania Beach was acquired for $69 million. The property encompasses 7.2 acres and includes 197 units, translating to a price per unit of $350,254. It offers a total square footage of 218,137, which results in a price per square foot of $316. The asset was completed two years ago by Stellar Communities and consists of three three-story buildings, featuring amenities such as a clubhouse, pool, and fitness center.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $69,000,000
• Buyer: Jay Lobell & Jared Frydman - JSB Capital Group
• Seller: Larry Baum - Stellar Communities
• Brokerage: Jaret Turkell, Omar Morales, Roberto Pesant & Yoav Yuhjtman - Berkadia
• Units: 197
• Acreage: 7.2
• Square Feet: 218,137
• Price per Unit: $350,254
• Price per Square Foot: $316

Jay Lobell and Jared Frydman represented JSB Capital Group in the acquisition of the property, while Larry Baum represented Stellar Communities as the seller. The deal was facilitated by brokers Jaret Turkell, Omar Morales, Roberto Pesant, and Yoav Yuhjtman from Berkadia, showcasing a collaborative effort in this notable transaction.