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Cochise Capital Acquires Fort Lauderdale Multifamily Portfolio For $10.3M

Property Image
SOLD
$10,300,000
Joseph Landsberg
Greg Matus
Dan Dratch
+ 2

Florida

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MultiFamily33,557 SF
Sold 10/05/2021
the dealplayerscompscontact
Property Image
SOLD

Cochise Capital Acquires Fort Lauderdale Multifamily Portfolio For $10.3M

701 NE 16th Ave, Fort Lauderdale, FL, USA

See Similar Deals
MultiFamily33,557 SF
Sold 10/05/2021
Joseph Landsberg
Greg Matus
Dan Dratch
+ 2
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$306
Total Square Footage:33,557 SF
Transaction Type:Sale

The multifamily property located at 701 NE 16th Ave, 627 NE 10th Ave., 312 NE 15th Ave., and 1725 NE 7th St. in Fort Lauderdale has been sold. The transaction was facilitated by Franklin Street on behalf of the seller, The Grand Capital, with representatives Dan Dratch, Greg Matus, Joseph Landsberg, Ryan Wold, and Travis Jones. The buyer in this transaction was Cochise Capital.

Summary of transaction details:

  • Property Type: Multifamily
  • Sale Price: $10,300,000
  • Units: 43
  • Price Per Unit: $239,535
  • Square Footage: 33,557
  • Price Per Square Foot: $307
  • Market: Fort Lauderdale

Joseph Landsberg, Travis Jones, Dan Dratch, Ryan Wold, and Greg Matus from Franklin Street played key roles in facilitating the deal. The sale represents another successful transaction for both the buyer, Cochise Capital, and the seller, The Grand Capital.

Players

Greg Matus
Franklin Street
Greg Matus
39 deals$386.5M volume
BROKER
Travis Jones
Horvath & Tremblay
Travis Jones
9 deals$45.5M volume
BROKER
Dan Dratch
Franklin Street
Dan Dratch
48 deals$267.8M volume
BROKER
Ryan Wold
Franklin Street
Ryan Wold
40 deals$210.5M volume(954) 312-1678
BROKER
Joseph Landsberg
TKG Commerical
Joseph Landsberg
6 deals$51.2M volume(561) 405-0643
BROKER
CC
Cochise Capital
BUYER

Details

SOLD
IMAGE: Joseph Landsberg, Travis Jones, Dan Dratch, Ryan Wold & Greg Matus DATE: 10/05/2021 ADDRESS: 701 NE 16th Ave, 627 NE 10th Ave., 312 NE 15th Ave. & 1725 NE 7th St. MARKET: Fort Lauderdale ASSET TYPE: Multifamily BUYER: Cochise Capital SELLER: The Grand Capital SELLER'S REP: Dan Dratch, Greg Matus, Joseph Landsberg, Ryan Wold, Travis Jones - Franklin Street SALE PRICE: $10,300,000 UNITS: 43 ~ PPU: $239,535 SF: 33,557 ~ PPSF: $307

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

$549,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$36,593.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$48,827.25
Annual Debt Service$585,927.06