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

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.