Six Peak Capital Acquires 2859-2883 Francis Ave Development Site In Koreatown For $7.75M

A development site located at 2859-2883 Francis Ave in Koreatown has been sold in a recent transaction. The property consists of four contiguous lots, offering the potential to build up to 116 units. The transaction took place on 03/04/2020.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $7,750,000
• Address: 2859-2883 Francis Ave, Koreatown

The buyer, Six Peak Capital, acquired the property from the seller, Francis/Lily LLC. The brokers involved in the deal were Dario Svidler, Justin Ruder, David Johnstone, and Peter Ciriello.

The price for the development site was $7,750,000, with a building square footage of 27,000. This results in a price per square foot (PPBSF) of $287.04.