Levon Mkrtchian Purchases 34 Condo Development Site In Pasadena From Ronald Morillo For $5.5M

The property involved in this transaction is a 34 Condo Development Site located at 252 North Michigan Avenue in Pasadena. The sale price for the asset was $5,500,000, with a building square footage (BSF) of 31,567 and a price per building square foot (PPBSF) of $174. The total square footage (SF) is 34,632, and the price per square foot (PPSF) is $158.

Summary of transaction details:

• Property Type: Condo Development Site
• Transaction Amount: $5,500,000
• Building Square Footage: 31,567
• Price per Building Square Foot: $174
• Total Square Footage: 34,632
• Price per Square Foot: $158
• Buyer: Levon Mkrtchian
• Seller: Ronald Morillo
• Brokers: Eric Chen & Kevin Sin - CBRE
• Transaction Date: 12/29/2025
• Market: Pasadena

Eric Chen and Kevin Sin, representing CBRE, facilitated the transaction between the buyer, Levon Mkrtchian, and the seller, Ronald Morillo. The brokers played a crucial role in bringing the parties together to finalize the deal in Pasadena.