Christina Development Sells El Palacio Apartments In West Hollywood For $15.75M With Northmarq's Goldstein & Schellinger

The El Palacio Apartments located at 8491 - 8499 Fountain Avenue in West Hollywood have been sold for a total price of $15,750,000. This multifamily property spans approximately 21,882 square feet with a price per square foot of $720. The transaction took place on August 14, 2020, and involved the sale of 18 units at a per unit price of $875,000.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $15,750,000
• Address: 8491 - 8499 Fountain Avenue, West Hollywood
• Market: West Hollywood

The seller of the property was Christina Development, and the deal was facilitated by brokers Steven Goldstein and Bryan Schellinger from Northmarq. This was an off-market transaction, implying that the property was not publicly listed for sale. It is worth noting that the El Palacio Apartments have a Mills Act contract in place, highlighting the historical significance of the property. For further information, interested parties can directly contact Steven Goldstein via email at [email protected].