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2639 Lincoln St, Hollywood,...

Meir Cohen Acquires 77-Unit Multifamily Property In Hollywood With $6.2M Bridge Loan
FINANCEDMultiFamily

Meir Cohen Acquires 77-Unit Multifamily Property In Hollywood With $6.2M Bridge Loan

2639 Lincoln St, Hollywood, FL, USA

$6,200,000

$185/SF

Building Size

33,440 SF

Asset Type

MultiFamily

Closing

Oct 14, 2021

AI

The property involved in this closed transaction is a multifamily asset located at 2639 Lincoln St in Hollywood. It has a total square footage of 33,440 and consists of 77 units. The seller in this transaction was Coastline Management Group, while the buyer was Meir Cohen.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $6,200,000
  • Address: 2639 Lincoln St
  • Market: Hollywood
  • Square Footage: 33,440
  • Units: 77

The loan for this transaction was provided by Sheridan Capital under a bridge loan type. The brokers involved in this deal were Noam Temchin from FM Capital, representing the buyer Meir Cohen.

Players

Noam Temchin

FM Capital⁠

Broker

$105.9M

vol

16 deals

Broker
Meir M. Cohen

Meir M. Cohen

Cohen Equities

Buyer

$30.9M

vol

5 deals

Buyer
CG
Coastline Management GroupSeller

Hollywood MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.56%

Cash-on-Cash

-0.73%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93