Jonathan Shechtman, Brian Kennedy, And Ben Platt Of Axonic Properties Acquire Multifamily Property In Tampa For $37.8M
7417 Palmera Pointe Cir
$37,837,400
$137/SF
Building Size
274,941 SF
Asset Type
MultiFamily
Closing
Jan 31, 2024
AI
The multifamily property located at 7417 Palmera Pointe Cir in Tampa has been sold in a closed transaction. The property consists of 248 units with a total square footage of 274,941. The sale price for this transaction was $37,837,400, resulting in a price per unit of $152,570 and a price per square foot of $138.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $37,837,400
- Address: 7417 Palmera Pointe Cir
- Market: Tampa
The buyer in this transaction is Axonic Properties, represented by Jonathan Shechtman, Brian Kennedy, and Ben Platt. The seller is Capstone Group, Inc., Luna One (SUBCO), LLC, and Luna Partnership One LLP. The brokers involved in the deal are Zach Nolan and Drew Jennewein from JLL.
Players
Tampa 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
0.42%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93