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300 Sunset Drive

Joe Levy And Jonathan Levy Acquire Multifamily Asset At 300 Sunset Drive For $5.77M
SOLDMultiFamily

Joe Levy And Jonathan Levy Acquire Multifamily Asset At 300 Sunset Drive For $5.77M

300 Sunset Drive

$5,770,000

$372/SF

Building Size

15,487 SF

Asset Type

MultiFamily

Closing

Jul 12, 2024

AI

The property involved in this transaction is a multifamily asset located at 300 Sunset Drive in Fort Lauderdale. The sale price was $5,770,000, and the asset consists of 16 units spread across a total of 15,487 square feet, resulting in a price per unit of $360,625 and a price per square foot of $373.

Summary of transaction details:

The deal was facilitated by brokers Fredrick Klein and Jonathan Singer from Riviera Horizons, a company that specializes in the procurement of on and off-market development opportunities in South Florida, with an emphasis on covered land. Interested parties can contact them for opportunities or insights into the South Florida market at the provided phone numbers.

Players

Fredrick Klein

Riviera Horizons

Broker

$24.9M

vol

3 deals

Broker

Fort Lauderdale 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

2.75%

Cash-on-Cash

-0.79%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93