Updated Dec 20, 2023
Madison Realty Capital Acquires 52-Unit Multifamily Property In Hollywood For $43M
777 N Ocean Dr, Hollywood, FL 33019, USA
$43,000,000
$96/SF
Building Size
446,375 SF
Asset Type
MultiFamily
Closing
Aug 30, 2020
About this deal
AI
The property involved in this transaction is a multifamily asset located at 777 North Ocean Drive in Hollywood. It consists of 52 units and was sold for a total price of $43,000,000, resulting in an average price per unit of $826,923. The buyer in this deal is Madison Realty Capital, represented by Josh Zegen.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $43,000,000
- Units: 52
- Price Per Unit: $826,923
- Buyer: Madison Realty Capital – Josh Zegen
Josh Zegen of Madison Realty Capital played a pivotal role in this transaction, representing the buyer. The deal highlights the strong demand for multifamily properties in the Hollywood market.
Players
Hollywood MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93