Marty Caparros Jr. And Alexander Ruiz Acquire 118 Units In Dania Beach For $27.3M

The asset involved in this transaction is a multifamily property located at 624 Northeast 2nd Street in Dania Beach, FL. The property consists of 118 units and encompasses nearly 5 acres. The transaction price was $27,300,000, resulting in a price per unit of $231,356.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $27,300,000
• Units: 118
• Price Per Unit: $231,356
• Buyer: Marty Caparros Jr. & Alexander Ruiz - Prestige Companies; Alex Mantecon - MV Real Estate
• Seller: J. Claudio Stivelman & Marc D Schmulian - S2 Development
• Market: Dania Beach, FL
• Note: The property was reacquired through a deed in lieu of foreclosure after the seller sold just six of the 124 units.

The buyer group includes Marty Caparros Jr. and Alexander Ruiz representing Prestige Companies, along with Alex Mantecon from MV Real Estate. The seller, S2 Development, was represented by J. Claudio Stivelman and Marc D Schmulian. The financing for this transaction included a $22.1 million mortgage provided by CRE Lendco.