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John Mayer And Joseph McGinty Nichol Purchase Historic Jim Henson Company Lot For $40 Million

Property Image
SOLD
$40,000,000

California

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Land
Sold 11/14/2024
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Property Image
SOLD

John Mayer And Joseph McGinty Nichol Purchase Historic Jim Henson Company Lot For $40 Million

1416 North La Brea Avenue

See Similar Deals
Land
Sold 11/14/2024
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Land
Transaction Type:Sale

The property asset involved in the transaction is a 5-acre land located at 1416 North La Brea Avenue in Hollywood, Los Angeles. It has been sold for $40 million. The property includes A&M Studios and will undergo redevelopment following the purchase.

Summary of transaction details:

  • Property Type: Land
  • Transaction Amount: $40,000,000
  • Buyer: John Mayer & Joseph McGinty Nichol
  • Seller: Henson Family
  • Broker: Larry Solters

John Mayer and Joseph McGinty Nichol have negotiated this purchase for several months. The plans for the redevelopment of the site remain unclear, but it is noted that the buyers are acquiring the historic Jim Henson Company Lot from the Henson family.

Players

LS
Larry Solters
1 deal$40M volume
BROKER

Details

SOLD
IMAGE: - UNDER CONTRACT IMAGE: John Mayer & Joseph McGinty Nichol DATE: 11/14/2024 ADDRESS: 1416 North La Brea Avenue MARKET: Hollywood, Los Angeles ASSET TYPE: Land ~ ACRES: 5 BUYER: John Mayer & Joseph McGinty Nichol SELLER: Henson Family BROKER: Larry Solters PRICE: $40,000,000 NOTE: John Mayer and McG have agreed to purchase the historic Jim Henson Company Lot in Hollywood for $40 million from the Henson family. The 5-acre property, which includes A&M Studios, will be redeveloped after Mayer and McG negotiated the deal for several months, though the buyers' plans for the site remain unclear.

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Operating Expenses (Annual)
Net Operating Income (NOI)

$2,133,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$142,111.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$189,620.41
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