Gilad & Avraham Ovaknin Acquire Hotel In Saint Petersburg For $7M
10750 Gulf Blvd, St. Pete Beach, FL, USA
$7,000,000
$275/SF
Building Size
25,436 SF
Asset Type
Hotel
Closing
Jun 10, 2021
About this deal
AI
The hotel located at 10750 Gulf Blvd in Saint Petersburg has been sold in a recent transaction. The property spans approximately 25,436 square feet and was sold for a price of $7,000,000, resulting in a price per square foot of $275. The sale took place on 06/11/2021.
Summary of transation details
- Property Type: Hotel
- Transaction Amount: $7,000,000
- Address: 10750 Gulf Blvd, Saint Petersburg
- Market: Saint Petersburg
Gilad & Avraham Ovaknin were the buyers of the hotel, while David M. King acted as the seller. The transaction was facilitated by their respective representatives.
On the Map
$7,000,000
$275/SF
Hotel
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Players
St Pete Beach Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93