Kevin Zarabi Acquires Development Site On Virginia Avenue In Hollywood For $1.125M

The development site located at 5655 Virginia Avenue in Hollywood was recently sold in a closed transaction. The buyer, Kevin Zarabi, acquired the property from Mark Azeez. The sale was facilitated by Yohann Bensimon and Nikolay Samokhvalov of Ikon Capital Advisors.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $1,125,000
• Address: 5655 Virginia Avenue
• Market: Hollywood

The property, situated in the Hollywood Opportunity Zone, is slated for a ground-up development of a four-story multifamily complex. With a total square footage of 11,000, the property's price per square foot is $102.27.

It's worth noting that this transaction presents an opportunity for significant growth and development within the Hollywood real estate market.