Stefan Ashkenazy Of Petit Ermitage Acquires Mixed-use Properties From Timan Khoubian For $30.7M

701 Ocean Front Walk

$30,700,000

$682/SF

Building Size

45,000 SF

Asset Type

Mixed-use

Closing

Oct 23, 2025

AI

The mixed-use property located at 619 and 701 Ocean Front Walk in Venice was sold for $30,700,000. This asset encompasses a total of 45,000 square feet and is comprised of 10 live-work lofts along with retail space. The transaction was supported by a $27 million loan from BrightSpire Capital.

Summary of transaction details:

Property Type: Mixed-use
Transaction Amount: $30,700,000
Buyer: Stefan Ashkenazy - Petit Ermitage
Seller: Timan Khoubian - DLJ Real Estate Capital Partners
Lender: BrightSpire Capital
Price Per Square Foot: $682

Stefan Ashkenazy is associated with the Petit Ermitage hotel in West Hollywood. Timan Khoubian represented DLJ Real Estate Capital Partners in this transaction, which involved the sale of former Snapchat hub buildings.

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