Terry & Tobias Harris Purchase Development Site In Los Angeles For $2.7M

The development site located at 1532-1552 West Court Street in Los Angeles has been sold for $2,700,000. The transaction involved buyers Terry Harris and Tobias Harris.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $2,700,000
• Address: 1532-1552 West Court Street
• Market: Los Angeles
• Buyers: Terry Harris & Tobias Harris

The sale was facilitated by a team of brokers from Ally Commercial Real Estate, Slatt Capital, and Piccard Financial. The land loan for this acquisition amounts to 70% Loan to Value (LTV) with an 8.00% interest rate. The plans for the property include developing a 189-unit affordable housing project.