Updated Dec 18, 2023
John Simonian Acquires Development Site In Beverly Park For $14.8M
50 Beverly Park Way, Beverly Hills, CA, USA
$14,800,000
$130/SF
Building Size
113,256 SF
Asset Type
Development Site
Closing
Jan 21, 2021
About this deal
AI
Located in Beverly Park, this development site on 50 Beverly Park Way has been sold in a recent transaction. The property spans across a lot size of 113,256 square feet, offering ample space for potential development opportunities.
Summary of transaction details:
- Property Type: Development site
- Transaction Amount: $14,800,000
- Date: January 22, 2021
- Market: Beverly Park
- Buyer: John Simonian
- Seller: Albert Avdolyan
- Brokers: David Kramer & Rick Hilton - Hilton & Hyland
The transaction involved notable individuals in the real estate industry. David Kramer and Rick Hilton, from the brokerage firm Hilton & Hyland, represented the buyer and seller respectively. This deal demonstrates their expertise and ability to facilitate high-value transactions.
Players
Beverly Hills Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.07%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93