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2007 North Ocean Drive, Hol...

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

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

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

$31,000,000

$364/SF

Building Size

85,000 SF

Asset Type

Closing

Jan 31, 2022

AI

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

Mark Drachman

Condra Property Group

Buyer

$235.4M

vol

9 deals

Buyer

Gil Shcolyar

Seller

$33.5M

vol

2 deals

Seller

Hollywood CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.51%

Cash-on-Cash

-0.15%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93