Chetrit Group Acquires Hollywood Condo At 101 North Ocean Drive For $15.5M
SOLD
$15,500,000
Florida
See Similar DealsOther62,713 SF
Sold 05/13/2022
SOLD
Chetrit Group Acquires Hollywood Condo At 101 North Ocean Drive For $15.5M
101 North Ocean Drive, Hollywood, Florida 33019, United States
See Similar DealsOther62,713 SF
Sold 05/13/2022
Summary
FLORIDA
Asset Type:Other
Price Per Square Foot:$247
Total Square Footage:62,713 SF
Transaction Type:Sale
A condo unit located at 101 North Ocean Drive in Hollywood has been sold for $15,500,000. The sale, which took place on May 13, 2022, involved a total of 102 units with an average price per unit of $151,961.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $15,500,000
- Address: 101 North Ocean Drive, Hollywood
- Market: Hollywood
- Buyer: Chetrit Group - Joseph Chetrit
- Units: 102
- Price Per Unit: $151,961
The buyer of the property is the Chetrit Group, represented by Joseph Chetrit. The transaction marks a significant milestone in the real estate market, showcasing the continuous growth and demand for high-end condominiums in Hollywood.
Players
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$826,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$55,068.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$73,477.91
Annual Debt Service$881,734.89
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