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PPG Development Acquires 1.4-Acre Development Site In Hallandale Beach For $14M
SOLD
$14,000,000
Florida
See Similar DealsDevelopment Site
Sold 09/27/2023
SOLD
PPG Development Acquires 1.4-Acre Development Site In Hallandale Beach For $14M
1800 East Hallandale Beach Boulevard, 1830 East Hallandale Beach Boulevard & 1800 Layne Boulevard
See Similar DealsDevelopment Site
Sold 09/27/2023
Summary
FLORIDA
Asset Type:Development Site
Transaction Type:Sale
An approximately 1.4-acre development site located at 1800, 1830 Hallandale Beach Boulevard & 1800 Layne Boulevard in Hallandale Beach has been recently sold for a price of $14,000,000. The buyer, PPG Development, led by Ari Pearl, acquired the property from Michael Klinger of Saber Real Estate.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $14,000,000
- Address: 1800, 1830 Hallandale Beach Boulevard & 1800 Layne Boulevard
- Market: Hallandale Beach
- Buyer: PPG Development - Ari Pearl
- Seller: Michael Klinger - Saber Real Estate
PPG Development, a local company, has decided to move its headquarters within Hallandale Beach and has chosen this 1.4-acre development site as the location for their new headquarters. The specifics of the project, such as the design and the potential rental or sale of extra spaces, are yet to be determined.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$746,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$49,739.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$66,367.14
Annual Debt Service$796,405.71
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