Jay Chang Acquires Development Site On Sawtelle Blvd In Los Angeles For $2.95M

A development site located at 1531 Sawtelle Blvd in Los Angeles, CA has been sold for a price of $2,950,000. The property has a total square footage of 7,031, which translates to a price per square foot of $420. The buyer in this transaction was Jay Chang, while Paul Burmaster acted as the seller. The sale was facilitated by Marcus & Millichap, with John Lally, Fil Niculete, Glen Scher, Ryan Serling, and Martin Agnew representing the buyer, and John Lally, Ryan Serling, and Martin Agnew representing the seller.

Summary of transation details

• Property Type: Development Site
• Transaction Amount: $2,950,000
• Address: 1531 Sawtelle Blvd, Los Angeles, CA
• Market: Los Angeles, CA
• Buyer: Jay Chang
• Seller: Paul Burmaster
• Buyer's Representative: John Lally, Fil Niculete, Glen Scher, Ryan Serling, and Martin Agnew - Marcus & Millichap
• Seller's Representative: John Lally, Ryan Serling, and Martin Agnew
• BSF: 23,660
• Price Per BSF: $125
• SF: 7,031
• Price per SF: $420

The sale of this development site represents a significant transaction in the Los Angeles market. Jay Chang emerged as the buyer for this property, while the seller, Paul Burmaster, concluded the deal. Marcus & Millichap played a pivotal role in facilitating the transaction, with their representatives, John Lally, Fil Niculete, Glen Scher, Ryan Serling, and Martin Agnew, assisting the buyer. On the seller's side, John Lally, Ryan Serling, and Martin Agnew handled the negotiations. This sale highlights the strong interest in development opportunities in the Los Angeles area.