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Ralph Puig Acquires Multifamily Asset In Dania Beach For $10 Million From The Hewlett Family

Property Image
SOLD
$10,000,000
Dan Dratch
Ryan Wold
+ 2

Florida

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MultiFamily35,122 SF
Sold 09/05/2024
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Property Image
SOLD

Ralph Puig Acquires Multifamily Asset In Dania Beach For $10 Million From The Hewlett Family

306 Northeast 5th Court

See Similar Deals
MultiFamily35,122 SF
Sold 09/05/2024
Dan Dratch
Ryan Wold
+ 2
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$284
Total Square Footage:35,122 SF
Transaction Type:Sale

The property asset involved in this transaction is a multifamily building located at 306 Northeast 5th Court in Dania Beach. The sale price amounted to $10,000,000, encompassing 37 units. The total square footage of the property is 35,122, with a price per unit of $270,270 and a price per square foot of $284.

Summary of transaction details:

Key individuals involved in this transaction include buyer Ralph Puig and seller Dennis Marrone, representing The Hewlett Family. The brokerage team comprised Ryan Wold, Dan Dratch, Greg Matus, and Ethan Krauss from Franklin Street, facilitating the multifamily asset deal.

Players

Greg Matus
39 deals$386.5M volume
BROKER

Dan Dratch
Franklin Street
48 deals$267.8M volume
BROKER

Ryan Wold
Franklin Street
40 deals$210.5M volume(954) 312-1678
BROKER

Ethan Krauss
Marcus & Millichap
21 deals$69.6M volume(954) 245-3503
BROKER

Greg Matus
1 deal$10M volume
BROKER

Details

SOLD
IMAGE: Dan Dratch, Greg Matus, Ryan Wold, Ralph Puig & Ethan Krauss DATE: 09/05/2024 ADDRESS: 306 Northeast 5th Court MARKET: Dania Beach ASSET TYPE: Multifamily BUYER: Ralph Puig SELLER: Dennis Marrone - The Hewlett Family BROKERS: Ryan Wold (@DJSunsett) , Dan Dratch (@DanDratch), Greg Matus (@GMatus24) & Ethan Krauss (@EthanKrauss) & - Franklin Street (@FranklinStreet.CRE) SALE PRICE: $10,000,000 UNITS: 37 ~ PPU: $270,270 SF: 35,122 ~ PPSF: $284

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$533,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$35,527.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$47,405.10
Annual Debt Service$568,861.22