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2939 Leeward Avenue, Los An...

Updated Mar 11, 2025

Parkview Financial Provides $29M Loan For Mega Home's Condo Project In Koreatown
FINANCED

Parkview Financial Provides $29M Loan For Mega Home's Condo Project In Koreatown

2939 Leeward Avenue, Los Angeles, CA, USA

$29,000,000

$21,561/SF

Building Size

1,345 SF

Asset Type

Closing

Jan 7, 2019

About this deal

AI

Peter Sherman and Jay Maddox are pictured in a photo shared on Instagram, marking their involvement in a recent real estate transaction. The transaction took place on January 8, 2019, at 2939 Leeward Ave in the Koreatown market. The property in question is a condo with 80 units owned by Mega Home LLC. Parkview Financial acted as the lender for the transaction and provided a loan amount of $29,000,000. The project is expected to be completed in the spring.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $29,000,000
  • Address: 2939 Leeward Ave
  • Market: Koreatown
  • Units: 80
  • Lender: Parkview Financial
  • Landlord: Mega Home LLC

In this real estate deal, Peter Sherman and Jay Maddox played a significant role. They were involved in securing the loan from Parkview Financial for the condo property located at 2939 Leeward Ave. The transaction involved Mega Home LLC as the landlord. With 80 units, this condo project is anticipated to be completed in the spring.

Players

Parkview Financial
Parkview FinancialLender

Los Angeles CRE Market Snapshot

Boundary boundary · CRE · Loan transactions

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Deal FAQ

About $21.6K per square foot on a published $29M for 1,345 square feet (2019).

Browse California loans on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.55%

Cash-on-Cash

-0.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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