Updated Oct 28, 2024
Slab Capital Acquires Development Site In Korea Town For $1.55M
570 North Normandie Avenue, Los Angeles, CA 90004, USA
$1,550,000
$77/SF
Building Size
20,000 SF
Asset Type
Development Site
Closing
Sep 16, 2021
About this deal
AI
An development site located at 570 N. Normandie Avenue in Korea Town has been sold for $1,550,000. The property spans 20,000 square feet and has a price per square foot of $77. The sale was finalized on September 16, 2021.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,550,000
- Address: 570 N. Normandie Avenue
- Market: Korea Town
- Buyer: Slab Capital - Carlos Cueto & Adam Surnow
- Seller: Ye-yun Lee
- Broker: Jonathan Sanchez
The buyer of the development site at 570 N. Normandie Avenue is Slab Capital, represented by Carlos Cueto and Adam Surnow. The seller is Ye-yun Lee. The real estate broker involved in the transaction is Jonathan Sanchez.
On the Map
$1,550,000
$77/SF
Development Site
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.23%
Cash-on-Cash
-2.92%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93