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622 Northeast 14th Avenue

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

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

Dan Dratch

Franklin Street

Broker

$267.8M

vol

48 deals

Broker

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