Simon Aftalion, Sabin Burrell & Daniel Glimcher Purchase Development Site In Los Angeles For $5M

The development site located at 2319 & 2323 Westwood Boulevard in Los Angeles was sold for $5,000,000. The site encompasses a total building square footage of 52,000, with a proposed development involving 107 units and an estimated budget of $34 million for the project. The land amount is 13,214 square feet, and the price per building square foot is $96, while the price per square foot for the land is $378.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $5,000,000
• Building Square Footage (BSF): 52,000
• Land Square Footage (SF): 13,214
• Proposed Units: 107
• Cost per Unit: $46,000
• Buyers: Simon Aftalion, Sabin Burrell, Daniel Glimcher
• Buyer's Representation: Errol Spiro, Dave Miller - Miller & Desatnik Realty

Miller & Desatnik Realty successfully secured acceptance of the buyers' offer for this off-market deal, which consists of two lots zoned C4-1VL. The project aims to create approximately 107 units through the ED1 program. This transaction marks Passo's ninth closing since its inception in 2024, contributing to a total project budget across its portfolio of about $200,000,000 in development.