Updated Apr 15, 2026
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
About this deal
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.
On the Map
$3,250,000
$292/SF
Development Site
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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