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Richard Auf Der Maur Acquires Development Site On Westwood Blvd. For $12M

Property Image
SOLD
$12,000,000
Neema Ahadian
Iman Mossanen

California

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Development Site53,049 SF
Sold 07/15/2022
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Property Image
SOLD

Richard Auf Der Maur Acquires Development Site On Westwood Blvd. For $12M

1900 Westwood Boulevard

See Similar Deals
Development Site53,049 SF
Sold 07/15/2022
Neema Ahadian
Iman Mossanen
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$226
Total Square Footage:53,049 SF
Transaction Type:Sale

A development site located at 1900 Westwood Blvd. in West Los Angeles has been sold in a closed transaction. The property boasts a square footage of 53,049 and was sold for a total price of $12,000,000. This translates to a price per square foot of $226.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $12,000,000
  • Address: 1900 Westwood Blvd., West Los Angeles
  • Market: West Los Angeles

The buyer of the property was Richard Auf der Maur, while the seller was Alex Ghassemieh. The deal was facilitated by Neema Ahadian and Iman Mossanen, who represented both parties as brokers for Marcus & Millichap.

Overall, this transaction involved the sale of a development site in West Los Angeles. Richard Auf der Maur purchased the property from Alex Ghassemieh for a total of $12,000,000. Neema Ahadian and Iman Mossanen from Marcus & Millichap served as the brokers in the deal.

Players

Iman Mossanen
Marcus & Millichap
Iman Mossanen
15 deals$77.4M volume(310) 909-5500
BROKER
Neema Ahadian
Marcus & Millichap
Neema Ahadian
79 deals$733M volume(310) 691-9929
BROKER

Details

SOLD
IMAGE: Iman Mossanen & Neema Ahadian DATE: 07/15/2022 ADDRESS: 1900 Westwood Blvd. MARKET: West Los Angeles ASSET TYPE: Development Site BUYER: Richard Auf der Maur SELLER: Alex Ghassemieh BROKERS: Neema Ahadian (@TheNeemaGroup) & Iman Mossanen (@ImanMossanen) - Marcus & Millichap SALE PRICE: $12,000,000 BSF: 53,049 ~ PPBSF: $226

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$640,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$42,633.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$56,886.12
Annual Debt Service$682,633.47