Rami Arab & Hanan El Sadi Acquire Pompano Beach Hotel For $4.5M
300 Briny Avenue, Pompano Beach, Florida 33062, United States
$4,500,000
$923/SF
Building Size
4,873 SF
Asset Type
Hotel
Closing
Apr 25, 2022
About this deal
AI
The hotel located at 300 Briny Ave in Pompano Beach, FL has been sold for $4,500,000. The property spans 4,873 square feet, resulting in a price per square foot of $923. The transaction took place on April 26, 2022.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $4,500,000
- Address: 300 Briny Ave, Pompano Beach, FL
- Market: Pompano Beach, FL
- Buyer: Rami Arab & Hanan El Sadi
- Seller: Anthony A. Karam
- Square Footage: 4,873
- Price per Square Foot: $923
Rami Arab & Hanan El Sadi have acquired the hotel from Anthony A. Karam, representing the buyer and seller, respectively.
Players
Pompano Beach Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93