Royal Partnership LLC Sells Beverly Hills Development Site For $2.05M With Michael Monempour, @Mike_Monem, As The Broker

Royal Partnership LLC has sold a development site in Beverly Hills for $2,050,000. The property, located at 8620 Gregory Way, spans across 5,769 square feet, resulting in a price per square foot of $355.35. The buyer intends to construct 12 units using the Transit Oriented Communities (TOC) plan. Michael Monempour from Mike Monem represented the seller in this off-market transaction. This marks Monempour's sixth successful sale of a development site in Prime Westside and adjacent submarkets within the past 15 months.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $2,050,000
• Date: 10/31/2019
• Address: 8620 Gregory Way, Beverly Hills
• Market: Beverly Hills
• Square Footage: 5,769
• Price per Square Foot: $355.35
• Units: 12
• Price per Unit: $170,833

Michael Monempour, representing Mike Monem, acted as the broker for Royal Partnership LLC in this transaction. It is noteworthy that the property was sold without any plans or entitlements in place, making it a unique opportunity for the buyer to develop the site according to their vision.