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
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.
Players
Beverly Hills 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
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93