Updated Feb 18, 2025
Steve Gold Purchases Development Site From Pik Yip At 4155 Wilshire Boulevard For $4.99M
4155 Wilshire Boulevard
$4,990,000
$222/SF
Building Size
22,400 SF
Asset Type
Development Site
Closing
Feb 7, 2025
About this deal
AI
The asset involved in this transaction is a development site located at 4155 Wilshire Boulevard in the Los Angeles market. The property measures 22,400 square feet and was sold for $4,990,000, equating to a price per square foot of $222.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $4,990,000
- Square Footage: 22,400
- Price Per Square Foot: $222
- Buyer: Steve Gold
- Seller: Pik Yip
- Broker Representatives: Dario Svidler & Jordan Petito - Partners CRE
- Market: Los Angeles
- Date of Sale: 02/07/2025
Dario Svidler and Jordan Petito from Partners CRE represented the seller, Pik Yip, in the transaction. This sale overcame many challenges, and they noted that more units are expected to be developed in the prime Hancock Park location. Interested parties are encouraged to contact Jordan or Dario for additional details regarding this deal.
On the Map
$4,990,000
$222/SF
Development Site
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.18%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93