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701 NE 16th Ave, Fort Laude...

Cochise Capital Acquires Fort Lauderdale Multifamily Portfolio For $10.3M
SOLDMultiFamily

Cochise Capital Acquires Fort Lauderdale Multifamily Portfolio For $10.3M

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

$10,300,000

$306/SF

Building Size

33,557 SF

Asset Type

MultiFamily

Closing

Oct 5, 2021

AI

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

Broker

$386.5M

vol

39 deals

Broker
CC
Cochise CapitalBuyer

Fort Lauderdale 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

1.54%

Cash-on-Cash

-0.44%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93