Margate Community Redevelopment Agency Acquires Hotel In Margate For $3.8M With Buyer's Rep Tim Schirripa

The asset involved in this transaction is a hotel located at 1100 State Road 7 in the Margate market. The property has a sale price of $3,800,000, encompasses 9,035 square feet, and features a total of 25 keys, resulting in a price per square foot of $420 and a price per key of $152,000.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $3,800,000
• Square Footage: 9,035
• Price Per Square Foot: $420
• Keys: 25
• Price Per Key: $152,000
• Buyer: Margate Community Redevelopment Agency
• Seller: Jan B. Hunt - BLL Motel Corp
• Buyer's Representative: Tim Schirripa - Coldwell Banker
• Seller's Representative: Ross M. Stern - Re/Max

Tim Schirripa represented the buyer, Margate Community Redevelopment Agency, while Ross M. Stern represented the seller, Jan B. Hunt - BLL Motel Corp, in this transaction. Their involvement highlights the collaborative efforts of these real estate professionals to facilitate the successful sale of the property.