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6507 DE Longpre Ave, Los An...

Maezra Buys 6507 DE Longpre Ave From Seller Weinandroses In Los Angeles For $4.1M
SOLD

Maezra Buys 6507 DE Longpre Ave From Seller Weinandroses In Los Angeles For $4.1M

6507 DE Longpre Ave, Los Angeles, C...

$4,099,999

$953/SF

Building Size

4,300 SF

Asset Type

Closing

Nov 22, 2023

AI

A 4,300-square-foot office building at 6507-6509 De Longpre Ave. in Hollywood has sold for $4.1 million, at around $949 per square foot. The property, built in 1948 and renovated in 2008, located near the Cinerama Dome and ArcLight Hollywood movie theater, was reportedly set a price record in the office submarket. The seller, Weinandroses, was represented by Nathan Pellow and Patrick Moody from Colliers International, while the buyer, Maezra, was operated by Blatteis & Schnur Inc.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $4,099,999.00
  • Address: 6507 De Longpre Ave, Los Angeles
  • Market: Los Angeles
  • Seller's Rep: Nathan Pellow (Colliers International), Patrick Moody (CBRE)
  • Buyer: Maezra
  • Seller: Weinandroses
  • SF: 4300

The property at 6507-6509 De Longpre Ave. found a new owner in Maezra, a Silver Lake-based LLC created for an unnamed music production company, through the representation of Blatteis & Schnur Inc. Interestingly, Go Film, a commercial and television production company, was the previous occupant of the office building, located near the Hollywood/Vine Station of the Los Angeles County Metropolitan Transportation Authority Red Line.

Players

Nathan Pellow

Colliers

Broker

$23M

vol

7 deals

Broker

Los Angeles CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.87%

Cash-on-Cash

-1.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93