Harbhajan & Gurte J. Singh Acquire Hotel In Fort Lauderdale For $8.35M
4800 NW 9th Ave, Fort Lauderdale, FL, USA
$8,350,000
$217/SF
Building Size
38,426 SF
Asset Type
Hotel
Closing
Jul 22, 2021
About this deal
AI
The hotel located at 4800 NW 9th Ave in Fort Lauderdale has been sold for a transaction amount of $8,350,000. The property spans approximately 38,426 square feet, resulting in a price per square foot of $217.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $8,350,000
- Address: 4800 NW 9th Ave, Fort Lauderdale
- Market: Fort Lauderdale
The buyers of the property are Harbhajan & Gurte J. Singh, while the sellers are Manuel A. Baldizonvargas & Daniel B. Hartley.
The hotel sale at 4800 NW 9th Ave, Fort Lauderdale, FL, USA in Fort Lauderdale, Florida sold for $8.4M in 2021. The building is 38,426 square feet, implying about 217 per square foot on the published price. This page is the Fort Lauderdale, Florida file for the 4800 NW 9th Ave, Fort Lauderdale, FL, USA hotel sold: pricing, party profiles, and other closed hotel comps from the same Fort Lauderdale sit in the Market section below. Filter that Fort Lauderdale hotel set by closing date to see what else sold near 4800 NW 9th Ave, Fort Lauderdale, FL, USA around 2021. Published consideration for 4800 NW 9th Ave, Fort Lauderdale, FL, USA is $8.4M, dated 2021. Cite this Harbhajan & Gurte J. Singh Acquire Hotel In Fort Lauderdale For $8.35M sale when underwriting similar hotel product around Fort Lauderdale, Florida.
Players
Fort Lauderdale Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.90%
Cash-on-Cash
-0.54%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93