Updated Sep 5, 2024
Amad Taban Acquires Development Site On Sunset Blvd In Hollywood For $12.5M
7901 West Sunset Boulevard, West Hollywood, CA, USA
$12,500,000
$602/SF
Building Size
20,735 SF
Asset Type
Development Site
Closing
Dec 4, 2019
About this deal
AI
A mixed-use development site located at 7901 Sunset Blvd in West Hollywood/Hollywood has been sold for a price of $12,500,000. The property spans a total square footage of 20,735, resulting in a price per square foot of $602.85. The transaction took place on December 5, 2019, with Amad Taban purchasing the property from Steve Kellerman.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $12,500,000
- Square Footage: 20,735
- Price per Square Foot: $602.85
- Transaction Date: December 5, 2019
- Buyer: Amad Taban
- Seller: Steve Kellerman
In representing the buyer and seller in this transaction, Kelly Betpolice and Peter Steigleder of an unnamed agency played key roles as brokers. The property was sold as a mixed-use redevelopment opportunity, providing potential for future development and investment opportunities in the area.
Players
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
1.27%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93