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6636 Variel Avenue, Canoga ...

Chase Cohen, John Lally And Ryan Serling Acquire Development Site In Canoga Park, Warner Center For $31M
SOLDDevelopment Site

Chase Cohen, John Lally And Ryan Serling Acquire Development Site In Canoga Park, Warner Center For $31M

6636 Variel Avenue, Canoga Park, CA, USA

$31,000,000

$248/SF

Building Size

124,559 SF

Asset Type

Development Site

Closing

Mar 7, 2019

AI

A development site located at 6636 Variel Ave in Canoga Park, Warner Center was recently sold for $31,000,000. The property spans 124,559 square feet, resulting in a price per square foot of $248.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $31,000,000
  • Address: 6636 Variel Ave
  • Market: Canoga Park, Warner Center
  • Square Footage: 124,559
  • Price per Square Foot: $248

The transaction was facilitated by Chase Cohen, John Lally, Martin Agnew, and Ryan Serling. Chase Cohen, from @ccohen53, along with John Lally, Martin Agnew, and Ryan Serling played key roles as the representatives in this deal.

Players

Martin Agnew

Marcus & Millichap

Broker

$442.8M

vol

121 deals

Broker

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

0.51%

Cash-on-Cash

-0.15%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93