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2572 Mercedes Drive

Shimera Franzoni And Jeffrey Franzoni Acquire Waterfront Home In Fort Lauderdale For $17M
SOLDSingle Family

Shimera Franzoni And Jeffrey Franzoni Acquire Waterfront Home In Fort Lauderdale For $17M

2572 Mercedes Drive

$17,000,000

$2,238/SF

Building Size

7,595 SF

Asset Type

Single Family

Closing

Feb 20, 2025

AI

The property asset involved in the transaction is a single-family home located at 2572 Mercedes Drive in Fort Lauderdale. The home spans 7,595 square feet and was sold for $17,000,000. It is situated on a 0.34-acre lot and features six bedrooms, a pool, and a dock, emphasizing its waterfront location. The home was built in 2023 and was originally listed for $16,000,000.

Summary of transaction details:

Key individuals in this transaction include the buyers, Shimera and Jeffrey Franzoni, who represent Synergy Insurance Marketing. Leonard Tarzia served as the seller and is associated with Regency. The buyer's interests were represented by Jeffrey Franzoni of Beachfront Realty, while the seller was represented by Gregory Jaxtheimer from Florida Luxurious Properties.

Players

Gregory Jaxtheimer

Florida Luxurious Properties

Broker

$17M

vol

1 deal

Broker

Fort Lauderdale Single Family Market Snapshot

Boundary boundary · Single Family · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.93%

Cash-on-Cash

-0.27%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93