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2707 Beverly Boulevard
SOLD

Adine Forman Acquires Beverly Boulevard Industrial Property For $13M

2707 Beverly Boulevard

Industrial
29,024 SF
clock iconSold 38 days ago
Jake Glaser
J.D. DeRosa
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Summary

Sale
CALIFORNIA
Industrial
29,024 sqft

The industrial property located at 2707 Beverly Boulevard in Los Angeles was sold for $13,000,000. The property spans 29,024 square feet with a price per square foot of $448. The sale involved a warehouse and creative office space.

Summary of transaction details:

The buyer, Adine Forman, is associated with the Hospitality Industry Training & Education Fund, while the seller is Daniel Bohbot. Representing the buyer in this transaction is J.D. DeRosa from Transwestern, and on the seller's side is Jake Glaser from Lyon Stahl Investment Real Estate. The property was acquired by a 501(c)(3) non-profit organization which qualified for a full exemption from the Mansion Tax, saving $715,000 on the sale. The buyer's intention for the property is to utilize it for training hospitality staff for the 2028 LA Summer Olympics, with potential plans for a 119-unit mixed-use apartment development on the site.

Players

  • All

    4

  • Agents

    2

  • Agencies

    2

Jake Glaser's profile picture
Jake Glaser
Lyon Stahl Investment Real Estate-image
Vice President
$45M Sold
J.D. DeRosa's profile picture

Details

Deal Summary
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SOLD
IMAGE: J.D. DeRosa & Jake Glaser DATE: 06/05/2024 ADDRESS: 2707 Beverly Boulevard MARKET: Los Angeles ASSET TYPE: Industrial BUYER: Adine Forman - Hospitality Industry Training & Education Fund SELLER: Daniel Bohbot BUYER;S REP: J.D. DeRosa - Transwestern (@Transwestern) SELLER'S REP: Jake Glaser (@TheGlaserGroup) - Lyon Stahl Investment Real Estate (@LyonStahl) SALE PRICE: $13,000,000 SF: 29,024 ~ PPSF: $448 NOTE FROM SELLER'S REP: This warehouse & creative office space was purchased all-cash by a 501(c)(3) non-profit and qualified for a FULL EXEMPTION from the Mansion Tax (Measure ULA). The seller was able to avoid paying the 5.5% transfer tax, saving $715,000 on the sale. The buyer will be using the property to train hospitality staff for the 2028 LA Summer Olympics. The site was also entitled to build a 119-unit mixed use apartment development.

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Address2707 Beverly Boulevard

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