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7777 Pines Boulevard, Pembr...

Robin Cruise Acquires Multifamily Property In Pembroke Pines For $6.6M
SOLDMultiFamily

Robin Cruise Acquires Multifamily Property In Pembroke Pines For $6.6M

7777 Pines Boulevard, Pembroke Pines, Florida 33024, United States

$6,600,000

$217/SF

Building Size

30,300 SF

Asset Type

MultiFamily

Closing

Dec 3, 2021

AI

Located at 7777 Pines Boulevard in Pembroke Pines, this multifamily property was recently sold. The transaction took place on December 3, 2021, with a sale price of $6,600,000. The property consists of 44 units, with each unit having an approximate price per unit (PPU) of $150,000. The total square footage of the property is 30,300, resulting in a price per square foot (PPSF) of $218.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $6,600,000
  • Address: 7777 Pines Boulevard
  • Market: Pembroke Pines

The buyer in this transaction was Robin Cruise, while the seller was Boris Ovrutsky. The deal was facilitated by brokers Joseph Thomas, Adam Duncan, and Marisol Hernandez from Marcus & Millichap.

Players

Adam Duncan

Marcus & Millichap

Broker

$170.8M

vol

26 deals

Broker

Robin Cruise

Buyer

$19.5M

vol

3 deals

Buyer

Boris Ovrutsky

Seller

$24.6M

vol

5 deals

Seller

Pembroke Pines 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

2.40%

Cash-on-Cash

-0.69%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93