Armin Soleimani - Global Platinum Properties Acquires Development Site In North Hollywood For $2.19M

A development site located at 11952-11958 Vanowen Street in North Hollywood has been sold for $2,190,000. The property spans an acreage of 0.26 and offers a total of 10 units, with a price per unit (PPU) of $219,000. The purchase price per square foot of land (PPLandSF) is $196.96. The transaction took place with the involvement of several representatives.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $2,190,000
• Address: 11952-11958 Vanowen Street, North Hollywood
• Market: North Hollywood
• Total Units: 10
• PPU: $219,000
• PPLandSF: $196.96
• Acreage: 0.26

The sale was facilitated by Filip Niculete and Glen Scher, who represented the seller, Lior Mandelbaum. On the buyer's side, Armin Soleimani from Global Platinum Properties served as the representative. The LAAA Team from Marcus & Millichap also assisted in representing the seller. Sharone Sabar from MMCC played a significant role by sourcing the construction loan for the buyer.