Vino Kulhari Of Terra Equity Group Acquires Multifamily Property In Fort Lauderdale For $7M
3050 Northwest 68th Street, Miami, FL 33147, USA
$7,000,000
$352/SF
Building Size
19,838 SF
Asset Type
MultiFamily
Closing
Aug 27, 2021
AI
The Lineo Palm Aire multifamily property located at 3050 NW 68th Street in Fort Lauderdale has been sold in a closed transaction. The property spans 19,838 square feet, with a sale price of $7,000,000, resulting in a price per square foot of $35. The transaction took place on August 27, 2021.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $7,000,000
- Address: 3050 NW 68th Street, Fort Lauderdale
- Market: Fort Lauderdale
Vino Kulhari, representing Terra Equity Group, purchased the property from Noah Leon and Steven Guasch, who were represented by Tal Frydman of Newmark. The buyer's representatives were Dan Dratch, Greg Matus, Travis Jones, and Ryan Wold from Franklin Street. The sale price matched the asking price.
Players
Miami 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
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93