David M. Schectman Purchases Condo At 2711 South Ocean Drive For $6.5 Million
2711 South Ocean Drive
$6,500,000
$1,278/SF
Building Size
5,086 SF
Asset Type
Condo
Closing
Apr 2, 2026
About this deal
AI
The transaction involves a condo located at 2711 South Ocean Drive UNIT 4005 in Hollywood. The asset was sold for $6,500,000, encompassing a total of 5,086 square feet, resulting in a price per square foot of $1,278.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $6,500,000
- Address: 2711 South Ocean Drive UNIT 4005
- Market: Hollywood
- Square Footage: 5,086
- Price Per Square Foot: $1,278
- Buyer: David M. Schectman
- Seller: Fares Noujaim & Mirna Noujam
- Seller's Representative: Chad Carroll & Matthew Dugow - The Chad Carroll Group
- Photographer: Mark Portnov - RealMediaVision
Key individuals involved in the transaction include David M. Schectman as the buyer and Fares Noujaim & Mirna Noujam as the sellers. The sellers were represented by Chad Carroll and Matthew Dugow from The Chad Carroll Group, ensuring that all parties were effectively represented throughout the sale process.
On the Map
$6,500,000
$1,278/SF
Condo
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Players
Hollywood Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Deal FAQ
About $1.3K per square foot on a published $6.5M for 5,086 square feet (2026).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93