Updated Oct 28, 2024
Metropolitan Property Group Acquires Multifamily Property In Fort Lauderdale For $13.6M
700 Northwest 14th Terrace, Fort Lauderdale, FL, USA
$13,600,000
$218/SF
Building Size
62,150 SF
Asset Type
MultiFamily
Closing
Dec 13, 2021
About this deal
AI
The multifamily property located at 700-745 NW 14th Terrace in Fort Lauderdale has been sold in a closed transaction. The property spans across 4.84 acres, featuring a total of 96 units and a square footage of 62,150. The sale price of this transaction was $13,600,000, resulting in a price per unit of approximately $141,667 and a price per square foot of $219.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $13,600,000
- Address: 700-745 NW 14th Terrace
- Market: Fort Lauderdale
- Acreage: 4.84
- Units: 96
- Square Footage: 62,150
- Price Per Unit: $141,667
- Price Per Square Foot: $219
The buyer of this property is Metropolitan Property Group, represented by Jonathan Ibarra-Blackmoon. The seller of the property is BSD Management. The deal was facilitated by brokers Dan Dratch, Greg Matus, and Ryan Wold from Franklin Street.
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
1.17%
Cash-on-Cash
-0.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93