Jonathan Shechtman, Brian Kennedy, And Ben Platt Of Axonic Properties Acquire Multifamily Property In Tampa For $37.8M
SOLD
$37,837,400
Florida
See Similar DealsMultiFamily274,941 SF
Sold 01/31/2024
SOLD
Jonathan Shechtman, Brian Kennedy, And Ben Platt Of Axonic Properties Acquire Multifamily Property In Tampa For $37.8M
7417 Palmera Pointe Cir
See Similar DealsMultiFamily274,941 SF
Sold 01/31/2024
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$137
Total Square Footage:274,941 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,017,994.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$134,428.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$179,368.58
Annual Debt Service$2,152,422.96
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