Updated Oct 28, 2024
Boutique Hospitality Acquires Wilton Manors Multifamily Property For $7.8M
611 Northeast 29th Drive, Wilton Manors, Florida 33334, United States
$7,800,000
$369/SF
Building Size
21,090 SF
Asset Type
MultiFamily
Closing
Jan 23, 2022
About this deal
AI
The multifamily property located at 611 Northeast 29th Drive in Wilton Manors has been sold for a price of $7,800,000. The sale took place on January 24, 2022. The property consists of 15 units, with a price per unit of $520,000. The total square footage of the property is 21,095, with a price per square foot of $370.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,800,000
- Units: 15
- Price per Unit: $520,000
- Square Footage: 21,095
- Price per Square Foot: $370
- Address: 611 Northeast 29th Drive, Wilton Manors
- Market: Wilton Manors
The buyer of the property is Boutique Hospitality, represented by Thomas Walter. The seller is Tona Construction and Management, represented by Domenick Tonnachio.
Players
Fort Lauderdale MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.03%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93