Updated Mar 11, 2025
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
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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