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
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.
Los Angeles 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
10.23%
Cash-on-Cash
-2.92%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93