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7417 Palmera Pointe Cir

Jonathan Shechtman, Brian Kennedy, And Ben Platt Of Axonic Properties Acquire Multifamily Property In Tampa For $37.8M
SOLDMultiFamily

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

Zach Nolan

JLL

Broker

$465.7M

vol

8 deals

Broker

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