Updated Oct 25, 2024
Weston Littlefield Acquires Development Site In Beverly Hills For $24M
1360 Summitridge Place, Beverly Hills, California 90210, United States
$24,000,000
Building Size
—
Asset Type
Development Site
Closing
Apr 17, 2022
About this deal
AI
A 2.8-acre development site located at 1360 Summitridge Place in Beverly Hills has been sold for a price of $24,000,000. The property, represented by Weston Littlefield of the Aaron Kirman Group, was acquired by buyer Gary Friedman.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $24,000,000
- Address: 1360 Summitridge Place, Beverly Hills
- Market: Beverly Hills
- Buyer's Representative: Weston Littlefield
- Seller's Representatives: Weston Littlefield & Alex Howe - Aaron Kirman Group
The deal, which closed on April 18, 2022, involved the sale of the 2.8-acre development site to Gary Friedman. Weston Littlefield of the Aaron Kirman Group represented both the buyer and the seller in the transaction.
On the Map
$24,000,000
Development Site
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Beverly Hills Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93