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Michael Levy Of Crow Holdings Acquires 376-Unit Multifamily Asset In Davie For $97.6M

Property Image
SOLD
$97,600,000
David Gilbert
Michael Levy

Florida

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MultiFamily
Sold 07/28/2025
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Property Image
SOLD

Michael Levy Of Crow Holdings Acquires 376-Unit Multifamily Asset In Davie For $97.6M

6300 Southwest 24th Place

See Similar Deals
MultiFamily
Sold 07/28/2025
David Gilbert
Michael Levy
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

The property asset involved in the transaction is a 376-unit multifamily complex located at 6300 Southwest 24th Place in Davie, encompassing 15.5 acres. The sale price for the property was $97,600,000, which translates to a price per unit of $259,574. The property has seen an annual appreciation of 2.16% since its previous sale in 2014 for $78.8 million, with current rental rates ranging from $2,048 to $3,005.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $97,600,000
  • Address: 6300 Southwest 24th Place
  • Market: Davie
  • Asset Size: 15.5 acres
  • Units: 376
  • Price Per Unit: $259,574
  • Buyer: Michael Levy - Crow Holdings
  • Seller: David Gilbert - Clarion Partners

This transaction involves Michael Levy representing Crow Holdings as the buyer and David Gilbert representing Clarion Partners as the seller. The deal reflects the continued demand for multifamily properties in the Davie market.

Players

Michael Levy
Crow Holdings
Michael Levy
22 deals$2.5B volume
BUYER
David Gilbert
Clarion Partners
David Gilbert
28 deals$1.9B volume
SELLER

Details

SOLD
IMAGE: David Gilbert & Michael Levy DATE: 07/28/2025 ADDRESS: 6300 Southwest 24th Place MARKET: Davie ASSET TYPE: Multifamily ~ ACRES: 15.5 BUYER: Michael Levy - Crow Holdings SELLER: David Gilbert - Clarion Partners SALE PRICE: $97,600,000 UNITS: 376 ~ PPU: $259,574 NOTE: Clarion Partners sold the 376-unit 33 West apartments in Davie to Crow Holdings for $97.5M, or $259K per unit.The property appreciated just 2.16% annually since its $78.8M sale in 2014, despite strong amenities and current rents ranging from $2,048 to $3,005.

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

$5,205,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$346,752.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$462,673.79
Annual Debt Service$5,552,085.52