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
$4,600,000
Building Size
—
Asset Type
Hotel
Closing
Sep 18, 2022
AI
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.
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
3.45%
Cash-on-Cash
-0.99%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93