Updated Dec 20, 2023
Hank Barhami Acquires Development Site In Beverly Grove For $2.75M
112 South Croft Avenue, Los Angeles, California 90048, United States
$2,750,000
$122/SF
Building Size
22,485 SF
Asset Type
Development Site
Closing
Feb 28, 2022
About this deal
AI
An development site located at 112 S. Croft Ave. in Beverly Grove was recently sold for a transaction price of $2,750,000. The property has a building square footage of 22,485, resulting in a price per square foot of $122. The sale took place on 03/01/2022 and involved the buyer, Hank Barhami, and the seller, Patricia Du Vannes. The brokers involved in the deal were Jason Tuvia and Nick Mejerski from Marcus & Millichap.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,750,000
- Address: 112 S. Croft Ave.
- Market: Beverly Grove
- Buyer: Hank Barhami
- Seller: Patricia Du Vannes
- Brokers: Jason Tuvia & Nick Mejerski - Marcus & Millichap
- Building Square Footage: 22,485
- Price per Square Foot: $122
- Date of Sale: 03/01/2022
The sale of this development site represents a significant transaction in Beverly Grove. The involvement of brokers Jason Tuvia and Nick Mejerski from Marcus & Millichap showcases the expertise and negotiation skills of these professionals in the real estate market.
Players
Los Angeles Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.77%
Cash-on-Cash
-1.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93