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Massoud Shabahang Buys Development Site On Flower Avenue In Venice For $1.175M

Property Image
SOLD
$1,175,000
Glen Scher
Filip Niculete

California

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Development Site936 SF
Sold 02/20/2024
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Property Image
SOLD

Massoud Shabahang Buys Development Site On Flower Avenue In Venice For $1.175M

657 Flower Avenue

See Similar Deals
Development Site936 SF
Sold 02/20/2024
Glen Scher
Filip Niculete
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$1,255
Total Square Footage:936 SF
Transaction Type:Sale

A 5,800 SqFt Development Site located at 657 Flower Avenue in Venice, CA was recently sold in a Real Estate Owned (REO) transaction. The property was acquired by Massoud Shabahang from the seller, Goldman Sachs, for $1,175,000 with a price per square foot of $1,255.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $1,175,000
  • Address: 657 Flower Avenue
  • Market: Venice
  • Square Footage: 936
  • Buyer: Massoud Shabahang
  • Seller: Goldman Sachs
  • Brokers: Filip Niculete & Glen Scher (Marcus & Millichap)

The deal for this Venice property was brokered by Filip Niculete and Glen Scher from Marcus & Millichap. The transaction involved a swift process, with escrow being opened fully non-contingent and all-cash, leading to a short 14-day close. The escrow was closed just 30 days after the lender took ownership of the property.

Players

Filip Niculete
Marcus & Millichap
Filip Niculete
197 deals$786.7M volume
BROKER
Glen Scher
Marcus & Millichap
Glen Scher
191 deals$739.7M volume
BROKER

Details

SOLD
IMAGE: Filip Niculete & Glen Scher DATE: 02/20/2024 ADDRESS: 657 Flower Avenue MARKET: Venice ASSET TYPE: Development Site BUYER: Massoud Shabahang SELLER: Goldman Sachs (@GoldmanSachs) BROKERS: Filip Niculete (@FNiculete) & Glen Scher (@ScherGlen) - @(LAAATeam) - Marcus & Millichap (@MarcusMillichapinc) SALE PRICE: $1,175,000 SF: 936 ~ PPSF: $1,255 NOTE FROM BROKERS: 5,800 SqFt Lot in Venice, CA Real Estate Owned (REO) Sale Opened Escrow Fully ​Non-Contingent & All-Cash with a Short 14-Day Close Closed Escrow Just 30 Days After ​Lender took Ownership

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