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325-327 Harding St, Hollywo...

Updated Dec 21, 2023

Engin Akdemir & Adnan Jafarov Acquire Hollywood Beach Hotel For $2.2M
SOLDHotel

Engin Akdemir & Adnan Jafarov Acquire Hollywood Beach Hotel For $2.2M

325-327 Harding St, Hollywood Beach, Hollywood, FL, USA

$2,200,000

$559/SF

Building Size

3,934 SF

Asset Type

Hotel

Closing

Sep 14, 2021

About this deal

AI

A Hollywood Beach hotel located at 325-327 Harding St has been sold in a recent transaction. The property, consisting of 13 keys, was purchased by Engin Akdemir & Adnan Jafarov from seller Jesus Rodriguez. The deal was facilitated by broker Alberto Navarro of Compass. The sale price for the hotel was $2,200,000, below the initial asking price of $2,900,000. The property spans across 3,934 square feet, resulting in a price per square foot of $559.

Summary of transation details

  • Property Type: Hotel
  • Transaction Amount: $2,200,000
  • Address: 325-327 Harding St
  • Market: Hollywood Beach
  • Keys: 13

The buyers, Engin Akdemir & Adnan Jafarov, successfully acquired the Hollywood Beach hotel located at 325-327 Harding St. The transaction was brokered by Alberto Navarro from Compass. The sale price of $2,200,000 marked a significant reduction from the original asking price of $2,900,000. With a square footage of 3,934, the price per square foot for the property amounts to $559.

Players

Alberto Navarro

Compass

Broker

$2.2M

vol

1 deal

Broker

Hollywood Hotel Market Snapshot

Boundary boundary · Hotel · Sale transactions

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Deal FAQ

About $559 per square foot on a published $2.2M for 3,934 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

7.21%

Cash-on-Cash

-2.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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