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3050 Northwest 68th Street,...

Vino Kulhari Of Terra Equity Group Acquires Multifamily Property In Fort Lauderdale For $7M
SOLDMultiFamily

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

Greg Matus

Franklin Street

Broker

$386.5M

vol

39 deals

Broker
TG
Terra Equity GroupBuyer

Noah Leon

Defined Companies

Seller

$14M

vol

2 deals

Seller

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