Record-Breaking Land Sale In West Hollywood Sets New Price Per Square Foot Record
656 Huntley Dr, West Hollywood, CA, USA
$2,100,000
$376/SF
Building Size
5,585 SF
Asset Type
Development Site
Closing
May 1, 2019
AI
The recent sale of a development site in West Hollywood has set a new record for the highest price per square foot for land in the history of the city. The property, located at 656 Huntley Dr, was sold for $2,100,000. With a total area of 5,585 square feet, the price per square foot comes to $376. This sale marks a significant milestone in the real estate market of West Hollywood.
Summary of transaction details
- Property Type: Dev Site
- Transaction Amount: $2,100,000
- Address: 656 Huntley Dr
- Market: West Hollywood
- Broker: Benjamin Illulian
Benjamin Illulian, of Illulian Realty, represented the parties involved in this historic sale. The transaction demonstrates the increasing demand for development sites in West Hollywood. The sale of this prime location showcases the appeal and potential of the area for future real estate development projects.
West Hollywood 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
7.55%
Cash-on-Cash
-2.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93