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Kamran Paydar & Laurie Lustig Bower Of CBRE Facilitate $4.9M Sale Of Multifamily Development Site In Los Angeles

Property Image
SOLD
$4,900,000
Laurie Lustig Bower
Kamran Paydar

California

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Development Site16,900 SF
Sold 05/02/2024
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Property Image
SOLD

Kamran Paydar & Laurie Lustig Bower Of CBRE Facilitate $4.9M Sale Of Multifamily Development Site In Los Angeles

10285 Missouri Avenue & 1814 Fox Hills Drive

See Similar Deals
Development Site16,900 SF
Sold 05/02/2024
Laurie Lustig Bower
Kamran Paydar
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$289
Total Square Footage:16,900 SF
Transaction Type:Sale

An 8,450-square-foot multifamily development site in Century City, West Los Angeles, located at 10285 Missouri Avenue & 1814-1824 Fox Hills Drive, was recently sold for $4,900,000. The buyers, 416 Development Group, LLC & Fox Hills Development Group, acquired the property from the seller, 1814 Fox Hill Drive, LLC. The sale price translates to approximately $580 per square foot.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $4,900,000
  • Address: 10285 Missouri Avenue & 1814-1824 Fox Hills Drive
  • Market: Los Angeles

Kamran Paydar and Laurie Lustig-Bower from CBRE represented the seller, 1814 Fox Hill Drive, LLC, in this transaction. The buyers, 416 Development Group, LLC & Fox Hills Development Group, aim to develop a 20-unit apartment building on the site. The location's proximity to various retail amenities and the Century City business district presents an attractive opportunity for the envisioned live-work-play environment.

Players

Laurie Lustig Bower
CBRE
Laurie Lustig Bower
18 deals$566.4M volume(310) 550-2556
BROKER
Kamran Paydar
CBRE
Kamran Paydar
11 deals$301.3M volume
BROKER

Details

SOLD
IMAGE: Laurie Lustig Bower & Kamran Paydar DATE: 05/02/2024 ADDRESS: 10285 Missouri Avenue & 1814-1824 Fox Hills Drive MARKET: Los Angeles ASSET TYPE: Development Site BUYER: 416 Development Group, LLC & Fox Hills Development Group SELLER: 1814 Fox Hill Drive, LLC BROKERS: Kamran Paydar & Laurie Lustig Bower (@Laurie__Bowers) - CBRE (@CBRE) SALE PRICE: $4,900,000 SF: 8,450 ~ PPSF: $580 NOTE: CBRE facilitated the $4.9 million sale of an 8,450-square-foot multifamily development site in Century City, West Los Angeles, to 416 Development Group, LLC, with Fox Hills Development Group, LLC as the development entity. Laurie Lustig-Bower and Kamran Paydar from CBRE’s Los Angeles Multifamily Investment Sales represented the seller, 1814 Fox Hill Drive, LLC, in this transaction. The buyer intends to construct a 20-unit apartment building at the site, benefitting from its prime location near premier retail amenities and the Century City business district, offering an ideal live-work-play environment.

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