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6954 Southwest 5th Street, ...

Corinthian Waterford Prop LLC Acquires Margate Multifamily For $20.6M
SOLDMultiFamily

Corinthian Waterford Prop LLC Acquires Margate Multifamily For $20.6M

6954 Southwest 5th Street, Margate, FL, USA

$20,600,000

$216/SF

Building Size

95,004 SF

Asset Type

MultiFamily

Closing

Dec 3, 2021

AI

The multifamily property located at 6954 SW 5th Street in Margate has been sold for a total price of $20,600,000. The property consists of 116 units, making the price per unit $177,586. The sale took place on 12/03/2021.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $20,600,000
  • Address: 6954 SW 5th Street, Margate
  • Market: Margate

The buyer of the property is Corinthian Waterford Prop LLC. The seller is Victoria One Management, represented by Jerry Slubowsky, Ricardo Ulloa, and Todd Linden. The seller's counsel for the transaction was Marc Kleiner from Kleiner Law Group.

Players

Evan Kristol

Marcus & Millichap

Broker

$416.7M

vol

60 deals

Broker

Ricardo Ulloa

Seller

$26.4M

vol

2 deals

Seller

Margate MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.77%

Cash-on-Cash

-0.22%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93