John Scherer Acquires Office Property In Fort Lauderdale From Steve Hudson For $10.2M
614 Southeast 6th Avenue
$10,200,000
$387/SF
Building Size
26,300 SF
Asset Type
Office
Closing
Aug 16, 2024
About this deal
AI
The property asset involved in the transaction is located at 614 South Federal Highway in Fort Lauderdale. It is classified as an office type asset, encompassing a total square footage of 26,300. The sale price of the property is $10,200,000, with a price per square foot calculated at $387.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $10,200,000
- Square Footage: 26,300
- Price Per Square Foot: $387
- Buyer: John Scherer
- Seller: Steve Hudson
- Broker: Anthony Fasano - Sano Group
- Date of Sale: 08/16/2024
The deal was facilitated by Anthony Fasano, representing the broker agency Sano Group. The transaction showcases the collaboration between the buyer, John Scherer, and the seller, Steve Hudson, navigating the market dynamics of Fort Lauderdale.
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
1.56%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93