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1032 South Main Street

Adam Rubin Acquires Mixed-Use Property In Downtown LA For $20.09M
SOLDMixed-use

Adam Rubin Acquires Mixed-Use Property In Downtown LA For $20.09M

1032 South Main Street, 1040 South Main Street, 1017 South Los Angeles Street & 1041 South Los Angeles Street

$20,090,000

$62/SF

Building Size

321,400 SF

Asset Type

Mixed-use

Closing

May 31, 2024

AI

The mixed-use property located at 1032-1040 South Main Street & 1017-1041 South Los Angeles Street in Downtown Los Angeles has been sold for $20,090,000. The property spans 80,350 square feet, resulting in a price per square foot of $250. The sale involved the buyer, Adam Rubin, and the seller, Aron Harkham.

Summary of transaction details:

Several key individuals and companies were involved in this transaction. Adam Rubin played the role of the buyer. On the selling side, Aron Harkham was the seller. The seller was represented by Mike Condon Jr., Erica Finck, Reid Gratsch, and Kylie Rawn from Cushman & Wakefield.

Players

Mike Condon Jr.

Cushman & Wakefield

Broker

$1.2B

vol

26 deals

Broker

Los Angeles Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.79%

Cash-on-Cash

-0.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93