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2711 South Ocean Drive

David M. Schectman Purchases Condo At 2711 South Ocean Drive For $6.5 Million
SOLDCondo

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

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.

Players

Chad Carroll

Compass

Broker

$1.7B

vol

85 deals

Broker

Hollywood Condo Market Snapshot

Boundary boundary · Condo · Sale transactions

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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