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
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.
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