PPG Development Acquires Development Site In Hallandale Beach For $13.95M
1800 East Hallandale Beach Boulevard & 1820 East Hallandale Beach Boulevard
$13,950,000
$114/SF
Building Size
121,968 SF
Asset Type
Development Site
Closing
Sep 26, 2023
AI
A development site located at 1800-1820 East Hallandale Beach Boulevard in Hallandale Beach has been sold for a total price of $13,950,000. The site spans across 60,984 square feet and was acquired by PPG Development, represented by Ari Pearl. The seller, Saber Real Estate, was represented by Michael Klinger in the transaction. The price per square foot for the property is $229.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $13,950,000
- Square Footage: 60,984
- Address: 1800-1820 East Hallandale Beach Boulevard
- Market: Hallandale Beach
- Buyer: PPG Development - Ari Pearl
- Seller: Michael Klinger - Saber Real Estate
- Price per Square Foot: $229
Ari Pearl of PPG Development played a key role as the buyer's representative in the deal. On the other hand, Michael Klinger from Saber Real Estate acted as the seller's representative. This transaction signifies the successful acquisition of the development site in Hallandale Beach, further expanding PPG Development's portfolio in the area.
Players
Hallandale Beach Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.14%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93