Ari Pearl And Jonathan Leifer Acquire Bay Harbor Islands Hotel For $30M
9540 West Bay Harbor Drive, Bay Harbor Islands, FL, USA
$30,000,000
$256/SF
Building Size
116,787 SF
Asset Type
Hotel
Closing
Jan 4, 2020
AI
The hotel at 9540 West Bay Harbor Drive in Bay Harbor Islands has been sold for a price of $30,000,000. The transaction took place on January 5, 2020.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $30,000,000
- Address: 9540 West Bay Harbor Drive
- Buyers: Ari Pearl from PPG Development and Jonathan Leifer from L3C Capital Partners
- Brokers: Moshe Averbuch from Pleasant Realty and Oren Lieber from Ritter, Zaretsky, Lieber & Jaime LLP
Ari Pearl from PPG Development and Jonathan Leifer from L3C Capital Partners were the buyers of the hotel. Moshe Averbuch from Pleasant Realty and Oren Lieber from Ritter, Zaretsky, Lieber & Jaime LLP represented the buyers in the transaction.
Players
Bay Harbor Islands 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
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93