John Minho Choi Acquires Multifamily Property From David Gray In Los Angeles For $14.75M

The asset involved in this transaction is a multi-family property located at 424 South Broadway, Los Angeles. The property was sold for a price of $14,750,000. It consists of 60 units, with a price per unit calculated at $245,833.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $14,750,000
• Units: 60
• Price Per Unit: $245,833
• Buyer: John Minho Choi
• Seller: David Gray
• Brokers: Darin Beebower & Dakoda Iversen - Kidder Mathews

This sale marks the first transaction of an adaptive reuse property in Downtown Los Angeles in 3 years, highlighting the significance of this deal within the local real estate market.