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
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