Updated Oct 28, 2024
Webster Bank Provides $33M Construction Loan For Hollywood Development Site On Eller Drive
1700 Eller Drive, Dania Beach, Florida 33316, United States
$33,000,000
$165/SF
Building Size
200,000 SF
Asset Type
Development Site
Closing
Oct 16, 2022
About this deal
AI
A development site located at 1700 Eller Drive in Hollywood has been involved in a recently closed transaction. The property spans across 10 acres and has a buildable square footage of 200,000. The deal took place on October 17, 2022.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $33,000,000
- Address: 1700 Eller Drive
- Market: Hollywood
- Buildable Square Footage: 200,000
- Acreage: 10 acres
The loan for this transaction was provided by Webster Bank, with John R. Ciulla serving as the lender's representative. The loan type for this deal was a construction loan. Seagis Property Group acted as the landlord for the transaction.
Players
Hollywood Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.48%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93