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Mark Mittal Purchases Multifamily Property In Fort Lauderdale For $2.5M From Denise Toupin

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SOLD
$2,500,000

Florida

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MultiFamily5,621 SF
Sold 08/16/2024
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Property Image
SOLD

Mark Mittal Purchases Multifamily Property In Fort Lauderdale For $2.5M From Denise Toupin

622 Northeast 14th Avenue

See Similar Deals
MultiFamily5,621 SF
Sold 08/16/2024
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Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$444
Total Square Footage:5,621 SF
Transaction Type:Sale

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

Dan Dratch
48 deals$267.8M volume
BROKER

Ryan Wold
Franklin Street
40 deals$210.5M volume(954) 312-1678
BROKER

Ethan Krauss
Marcus & Millichap
21 deals$69.6M volume(954) 245-3503
BROKER

Details

SOLD
IMAGE: Dan Dratch, Ethan Krauss & Ryan Wold DATE: 08/16/2024 ADDRESS: 622 Northeast 14th Avenue MARKET: Fort Lauderdale ASSET TYPE: Multifamily BUYER: Mark Mittal SELLER: Denise Toupin BROKERS: Ethan Krauss (@EthanKrauss), Ryan Wold (@DJSunsett) & Dan Dratch (@DanDratch) - Franklin Street (@FranklinStreet.CRE) SALE PRICE: $2,500,000 SF: 5,621 ~ PPSF: $444

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$133,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,881.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,851.28
Annual Debt Service$142,215.31