Mark Drachman, Allen Konstam & Naftali Berkowitz Acquire Hotel/Motel/Hostel/B&B In Hollywood, FL From Jeffrey S Roschman For $4.6M
SOLD
$4,600,000
Florida
See Similar DealsHotel
Sold 09/19/2022
SOLD
Mark Drachman, Allen Konstam & Naftali Berkowitz Acquire Hotel/Motel/Hostel/B&B In Hollywood, FL From Jeffrey S Roschman For $4.6M
321 Minnesota Street, Hollywood, Florida 33019, United States
See Similar DealsHotel
Sold 09/19/2022
Summary
FLORIDA
Asset Type:Hotel
Transaction Type:Sale
A hotel/motel/hostel/B&B located at 321 Minnesota St & 1515 N Ocean Dr in Hollywood, FL has been sold for a price of $4,600,000. The transaction took place on September 19, 2022. The property is situated in the Hollywood market.
Summary of transaction details
- Property Type: Hotel/Motel/Hostel/B&B
- Transaction Amount: $4,600,000
- Address: 321 Minnesota St & 1515 N Ocean Dr, Hollywood, FL
- Market: Hollywood, FL
The buyers of the property are Mark Drachman, Allen Konstam, and Naftali Berkowitz. The seller of the property is Jeffrey S Roschman.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$245,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,342.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,806.35
Annual Debt Service$261,676.16
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