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Michael Stein Acquires Development Site On North Vendome Street For $1.05M

Property Image
SOLD
$1,050,000
Navid Toomarian
Ariel Sayani
Jordan Petito
+ 1

California

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Development Site
Sold 12/14/2023
the dealplayerscompscontact
Property Image
SOLD

Michael Stein Acquires Development Site On North Vendome Street For $1.05M

701 North Vendome Street

See Similar Deals
Development Site
Sold 12/14/2023
Navid Toomarian
Ariel Sayani
Jordan Petito
+ 1
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Development Site
Transaction Type:Sale

Located at 701 North Vendome Street in Los Angeles, this development site was recently sold in a closed transaction. The property spans 6,200 square feet and is zoned as LAR3, offering potential for development. The sale price for this asset was $1,050,000, resulting in a price per square foot of $169. The transaction took place on December 14, 2023.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $1,050,000
  • Address: 701 North Vendome Street
  • Market: Los Angeles
  • Zoning: LAR3

The buyer of this property was Michael Stein, while the seller was Hannah Bakers. Navid Toomarian, Ariel Sayani, and Jordan Petito, representing Partners CRE, acted as the brokers in this deal. It's worth noting that Ariel Sayani can also provide information about job opportunities in commercial real estate, including leads for interested individuals.

Players

Ariel Sayani
Partners CRE
Ariel Sayani
25 deals$69.5M volume(310) 968-7711
BROKER
Navid Toomarian
Partners CRE
Navid Toomarian
3 deals$7.4M volume
BROKER
Jordan Petito
Partners CRE
Jordan Petito
5 deals$12M volume(310) 734-2245
BROKER
Michael Stein
Pensam Capital
Michael Stein
5 deals$96.9M volume
BUYER

Details

SOLD
IMAGE: Navid Toomarian, Ariel Sayani & Jordan Petito DATE: 12/14/2023 ADDRESS: 701 North Vendome Street MARKET: Los Angeles ASSET TYPE: Development Site ~ ZONING: LAR3 BUYER: Michael Stein SELLER: Hannah Bakers BROKERS: Navid Toomarian (@NavidToomarian), Ariel Sayani & Jordan Petito (@JordanPetito) - Partners CRE SALE PRICE: $1,050,000 SF: 6,200 ~ PPSF: $169 NOTE FROM BROKER: Please contact Ariel Sayani if you are interested in a job opportunity in commercial real estate, leads will be provided as well.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$3,730.43
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