Brookfield Residential Acquires Development Site In Arcadia For $58.5M

A development site located at 4241 Live Oak Avenue in Arcadia has been sold for a total price of $58,500,000. The property spans 524,898 square feet with a price per square foot of $111. It consists of 277 units, with a price per unit of $211,191. The site covers an area of 12 acres, resulting in a price per acre of $4,875,000.

Summary of Transaction Details

• Property Type: Development Site
• Transaction Amount: $58,500,000
• Square Footage: 524,898
• Price per Square Foot: $111
• Number of Units: 277
• Price per Unit: $211,191
• Total Acres: 12
• Price per Acre: $4,875,000

The buyer of the property is Brookfield Residential, and the seller is Prime Enterprises, represented by Alethea Hsu. Tom Nguyen from EXP Commercial served as the seller's representative in this deal.