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
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
7.21%
Cash-on-Cash
-2.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93