Mark Mittal Purchases Multifamily Property In Fort Lauderdale For $2.5M From Denise Toupin
622 Northeast 14th Avenue
$2,500,000
$444/SF
Building Size
5,621 SF
Asset Type
MultiFamily
Closing
Aug 16, 2024
AI
The property asset involved in this transaction is a multifamily building located at 622 Northeast 14th Avenue in Fort Lauderdale. The sale price was $2,500,000, and the property encompasses 5,621 square feet, resulting in a price per square foot of $444.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,500,000
- Address: 622 Northeast 14th Avenue
- Market: Fort Lauderdale
- Square Footage: 5,621
- Price Per Square Foot: $444
- Buyer: Mark Mittal
- Seller: Denise Toupin
- Broker Representation: Ethan Krauss, Ryan Wold & Dan Dratch - Franklin Street
Key individuals involved in the deal include buyer Mark Mittal and seller Denise Toupin. The transaction was facilitated by brokers Ethan Krauss, Ryan Wold, and Dan Dratch from Franklin Street, highlighting their role in bringing the parties together for this multifamily property deal.
Players
Fort Lauderdale 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
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93