An off-market development site located at 1442-1446 Bedford St in the Pico Robertson neighborhood has been sold. The property, listed and sold by Michael Monempour, consists of 29 units with a price of $5,200,000. The buyer, Trion Properties Inc., was represented by David Moghavem, while the seller was Farhad Soleimani. The deal was facilitated by Michael Monempour acting as both the buyer's and seller's representative.

Summary of transaction details:

• Property Type: Development site
• Transaction Amount: $5,200,000
• Units: 29
• Price Per Unit: $179,310
• Total BSF (Building Square Footage): 34,986
• Price Per BSF: $148

The sale of this development site was closed with a 1-year escrow period to allow the buyer to obtain entitlements, specifically a Tier 3 TOC (Transit Oriented Communities) designation. The property offers various amenities including a lobby, gym, community room, bike racks, and a roof deck. The price per buildable unit is calculated at $179,310, while the price per square foot of land is $400.