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

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SOLD
$2,050,000

California

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Development Site5,769 SF
Sold 10/31/2019
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SOLD

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

8620 Gregory Way, Beverly Hills, CA, USA

See Similar Deals
Development Site5,769 SF
Sold 10/31/2019
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$355
Total Square Footage:5,769 SF
Transaction Type:Sale

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.

Players

Michael Monempour
Lyon Stahl Investment Real Estate
Michael Monempour
85 deals$375.9M volume
BROKER
Kidder Mathews
Kidder Mathews
BROKERAGE

Details

SOLD
IMAGE: Michael Monempour @Mike_Monem DATE: 10/31/2019 ADDRESS: 8620 Gregory Way MARKET: Beverly Hills ASSET TYPE: Development Site SELLER: Royal Partnership LLC BROKER: Michael Monempour PRICE: $2,050,000 SF: 5,769 ~ PPSF: $355.35 UNITS: 12 PPU: $170,833 NOTES: Property sold off market with out any plans or entitlements. Developer plans to build 12 units using TOC. This is the 6th Development site Michael Monempour has sold in the past 15 Months in Prime Westside and adjacent sub markets.

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