Condra Property Group Acquires Hollywood Beach Hotel For $10.8M With Buyer's Rep Jonny Chames
2012 North Surf Road, Hollywood, Florida 33019, United States
$10,800,000
$638/SF
Building Size
16,913 SF
Asset Type
Hotel
Closing
Jan 25, 2022
AI
The sale of a hotel property located at 2012 North Surf Road in Hollywood Beach has been completed. The transaction was finalized on January 25, 2022.
Summary of transaction details
- Property Type: Hotel
- Address: 2012 North Surf Road
- Market: Hollywood Beach
- Keys: 29
- Price per Key: $372,414
The buyer of the property is Condra Property Group, represented by Mark Drachman, Allen Konstam, and Ira Chaimovits. The seller is Viktor Properties, owned by Viktor Goldenberg. The deal was facilitated by Jonny Chames of Beachfront Realty Inc.
The hotel property was sold for the asking price of $10,800,000, which was also the final sale price. The property spans approximately 40,000 square feet, with a price per square foot of $270.
Players
Hollywood 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
1.47%
Cash-on-Cash
-0.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93