Mel Landow Foundation Acquires Office Building From Nova Southeastern University For $15M In Fort Lauderdale
3100 Southwest 9th Avenue
$15,000,000
$235/SF
Building Size
63,746 SF
Asset Type
Office
Closing
Jul 26, 2024
AI
The property asset involved in this transaction is located at 3100 Southwest 9th Avenue in Fort Lauderdale. The office asset spans a total square footage of 63,746, with a price per square foot of $235, leading to a total sale price of $15,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $15,000,000
- Address: 3100 Southwest 9th Avenue
- Market: Fort Lauderdale
- Square Footage: 63,746
- Price Per Square Foot: $235
- Buyer: Mel Landow Foundation
- Seller: Nova Southeastern University
- Brokers: Zachary Talbot & Adam Talbot - Cresa
The deal was facilitated by brokers Zachary Talbot and Adam Talbot from Cresa, representing the parties in this transaction. The involvement of the Mel Landow Foundation as a buyer highlights the interest in office properties in the Fort Lauderdale area.
Players
Fort Lauderdale Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93