Torrey Ripinsky Acquires Development Site In Virgil Village For $5.25M
700 North Virgil Avenue, Los Angeles, CA, USA
$5,250,000
$319/SF
Building Size
16,454 SF
Asset Type
Development Site
Closing
Jun 27, 2019
AI
A development site located at 700 N Virgil in Virgil Village was sold on June 28, 2019. The property, spanning 16,454 square feet, was sold for a total price of $5,250,000, which translates to a price per square foot of $319.07.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $5,250,000
- Square Footage: 16,454
- Price per Square Foot: $319.07
- Market: Virgil Village
The buyer of the property was Torrey Ripinsky, while the seller was Kamo Sokhrabiyantis. This off-market transaction presented an opportunity in an opportunity zone.
Players
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
3.02%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93