S3 Hospitality Miami Acquires Hotel In Dania Beach For $27.8M
28 South Federal Highway, Dania Beach, FL, USA
$27,800,000
$296/SF
Building Size
93,822 SF
Asset Type
Hotel
Closing
Nov 3, 2019
About this deal
AI
The hotel located at 28 South Federal Highway in Dania Beach has been sold in a recent transaction. The property, with a total square footage of 93,822 and consisting of 143 units, was acquired by S3 Hospitality Miami for a price of $27,800,000. This amounts to a price per square foot of $296.3 and a price per unit of $194,000. The sale took place on November 4, 2019.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $27,800,000
- Square Footage: 93,822
- Units: 143
- Price per Square Foot: $296.3
- Price per Unit: $194,000
The sale was facilitated by the sellers, N&S Properties, represented by Nicholas Stankiewicz and Jesse Wood. The buyers, S3 Hospitality Miami, successfully acquired the property with the help of their broker representatives, Sunil Patel, Usha Patel from Kusa Hospitality, and Alvaro Correa. The deal was completed in the market of Dania Beach.
Dania 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
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93