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124 N Manhattan Pl, Los Ang...

Tommy Beadel Acquires Development Site In Koreatown For $1.32M
SOLDDevelopment Site

Tommy Beadel Acquires Development Site In Koreatown For $1.32M

124 N Manhattan Pl, Los Angeles, CA, USA

$1,320,000

$200/SF

Building Size

6,600 SF

Asset Type

Development Site

Closing

Oct 1, 2021

AI

A development site located at 124 N. Manhattan Pl. in Koreatown has been sold for a total price of $1,320,000. The property, which spans 6,600 square feet, was sold by Shalley Kim to Tommy Beadel. The transaction was facilitated by broker Ariel Sayani from an undisclosed agency.

Summary of transation details

  • Property Type: Development Site
  • Transaction Amount: $1,320,000
  • Address: 124 N. Manhattan Pl.
  • Market: Koreatown

The sale of the development site marks an important milestone for both the buyer, Tommy Beadel, and the seller, Shalley Kim. This transaction showcases the growing interest in real estate opportunities in Koreatown. With a sale price of $1,320,000 and a square footage of 6,600, this deal represents a significant investment in the area's development potential. Ariel Sayani, from an undisclosed agency, represented both parties involved in the transaction.

Players

Ariel Sayani

Partners CRE

Broker

$69.5M

vol

25 deals

Broker
Kidder Mathews
Kidder MathewsBrokerage

Tommy Beadel

Thomas James Homes

Buyer

$10.6M

vol

4 deals

Buyer

Los Angeles 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

12.02%

Cash-on-Cash

-3.43%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93