Marat Terchiyev & Tetiana Terchiieva Acquire Development Site At 505 Palm Drive For $3.25M
505 Palm Drive
$3,250,000
$292/SF
Building Size
11,117 SF
Asset Type
Development Site
Closing
Apr 7, 2026
AI
This development site located at 505 Palm Drive in Hallandale Beach was sold for $3,250,000. The property encompasses 11,117 square feet, translating to a price per square foot of $292.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,250,000
- Address: 505 Palm Drive
- Market: Hallandale Beach
- Square Footage: 11,117
- Price Per Square Foot: $292
- Buyer: Marat Terchiyev & Tetiana Terchiieva
- Seller: Alan Chocron
- Seller's Representative: Alan Chocron - Compass
Marat Terchiyev and Tetiana Terchiieva completed the acquisition of the property, with Alan Chocron representing himself as the seller through Compass in this transaction.
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
4.88%
Cash-on-Cash
-1.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93