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Gary Leshgold Of The Lighthouse Group Purchases 218-Unit Multifamily At 1714 North McCadden Place For $73.9M
SOLD
$73,900,000
California
See Similar DealsMultiFamily
Sold 08/28/2025
SOLD
Gary Leshgold Of The Lighthouse Group Purchases 218-Unit Multifamily At 1714 North McCadden Place For $73.9M
1714 North Mccadden Place
See Similar DealsMultiFamily
Sold 08/28/2025
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
The property asset involved in this transaction is a multifamily complex located at 1714 North McCadden Place in Los Angeles, which consists of 218 units. The sale price achieved for this property was $73,900,000, representing a price per unit of $338,991. The property has been rebranded as Fusion Encore Hollywood following the acquisition.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $73,900,000
- Buyer: Gary Leshgold - The Lighthouse Group
- Seller: New York Life Real Estate Investors
- Broker: Cushman & Wakefield
- Lender: KeyBank
- Units: 218
- Price Per Unit: $338,991
Key individuals involved in this deal include Gary Leshgold, representing The Lighthouse Group as the buyer, and New York Life Real Estate Investors as the seller. Cushman & Wakefield facilitated the transaction, and KeyBank provided financing amounting to $52 million.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,941,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$262,551.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$350,323.70
Annual Debt Service$4,203,884.42
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