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Allen Konstam, Mark Drachman, And Ira Chaimovits Acquire Hollywood Package Deal For $31M

Property Image
SOLD
$31,000,000
Allen Konstam
+ 1

Florida

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85,000 SF
Sold 02/01/2022
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Property Image
SOLD

Allen Konstam, Mark Drachman, And Ira Chaimovits Acquire Hollywood Package Deal For $31M

2007 North Ocean Drive, Hollywood, Florida 33019, United States

See Similar Deals
85,000 SF
Sold 02/01/2022
Allen Konstam
+ 1
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Summary

FLORIDA
Price Per Square Foot:$364
Total Square Footage:85,000 SF
Transaction Type:Sale

A package deal in Hollywood has closed with the sale of a property located at 2007 N Ocean Dr. The transaction was finalized on February 1, 2022. The property, spanning 85,000 square feet, was sold for a total of $31,000,000, resulting in a price per square foot of $365. The package deal involved multiple assets included in the sale.

Summary of transaction details

  • Property Type: Package Deal
  • Transaction Amount: $31,000,000
  • Address: 2007 N Ocean Dr
  • Market: Hollywood

The buyers of the property were Allen Konstam, Mark Drachman (DrachmanMark), and Ira Chaimovits, represented by Condra Property Group. The seller in this transaction was Gil Shcolyar. The buyers and their representative successfully negotiated the package deal, resulting in the acquisition of the property at 2007 N Ocean Dr.

Players

9 deals$235.4M volume
BUYER

Allen Konstam
7 deals$158.4M volume
BUYER


2 deals$33.5M volume
SELLER

Details

SOLD
IMAGE: Mark Drachman, Allen Konstam & Ira Chaimovits DATE: 02/01/2022 ADDRESS: 2007 N Ocean Dr MARKET: Hollywood ASSET TYPE: Package Deal BUYER: Allen Konstam (@AllenKonstam1), Mark Drachman (DrachmanMark) & Ira Chaimovits - Condra Property Group (@Condra_Property_Group) SELLER: Gil Shcolyar SALE PRICE: $31,000,000 SF: 85,000 ~ PPSF: $365

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,653,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$110,136.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$146,955.82
Annual Debt Service$1,763,469.79