Hollywood Moon Development Acquires Development Site In Hollywood For $15.5M
901 South Ocean Drive
$15,500,000
$286/SF
Building Size
54,041 SF
Asset Type
Development Site
Closing
Aug 10, 2022
AI
A development site located at 901 S Ocean Dr in Hollywood has been sold for $15,500,000. This property spans 54,041 square feet, resulting in a price per square foot of $287. The transaction took place on August 10, 2022.
Summary of Transaction Details:
- Property Type: Development Site
- Transaction Amount: $15,500,000
- Address: 901 S Ocean Dr, Hollywood
- Market: Hollywood
- Buyer: Hollywood Moon Development - Ulvi Mammadov
- Seller: GSK Hollywood Development Group - Manuel Grosskopf
- Brokers: Greg Matus, Adam J. Tiktin & Alex Lazo - Franklin Street
- Square Footage: 54,041
- Price Per Square Foot: $287
The buyer of this development site is Hollywood Moon Development, represented by Ulvi Mammadov. The seller is GSK Hollywood Development Group, represented by Manuel Grosskopf. The deal was facilitated by the brokers Greg Matus, Adam J. Tiktin, and Alex Lazo from Franklin Street.
Players
Bethany 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
1.02%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93