Faring Acquires West Hollywood Development Site For $29.6M
1000 North La Brea Avenue, West Hollywood, CA, USA
$29,600,000
$422/SF
Building Size
70,000 SF
Asset Type
Development Site
Closing
Dec 9, 2019
AI
A development site located at 1000-1028 N. La Brea Avenue, 1011-1013 Sycamore Avenue, and 7061 W. Romaine Street in West Hollywood has been sold for $29,600,000. The property spans 70,000 square feet and has a price per buildable square foot of $422. The transaction took place on December 10, 2019.
Summary of transation details
- Property Type: Development site
- Transaction Amount: $29,600,000
- Address: 1000-1028 N. La Brea Avenue, 1011-1013 Sycamore Avenue, 7061 W. Romaine Street
- Market: West Hollywood
- BSF: 70,000
- PPBSF: $422
The buyer of the property is Faring, with Jason Illoulian representing the company in the deal.
Players
West Hollywood Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.54%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93