Updated Dec 4, 2024
Lucy Guo Of Passes Leases 25,000 Square Feet Office From Robert Herscu In Los Angeles
720 North Cahuenga Boulevard
Building Size
25,000 SF
Asset Type
Office
Closing
Aug 19, 2024
About this deal
AI
The leased property is a 25,000-square-foot office space located at 720 North Cahuenga Boulevard in Los Angeles. The previous occupant of the space was Faze Clan. This office is designed to accommodate various amenities, including podcast studios, green screen rooms, and a yoga studio, catering to the needs of the tenant's operations.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 720 North Cahuenga Boulevard
- Market: Los Angeles
- Landlord: Robert Herscu - HQ Creative Office
- Tenant: Lucy Guo - Passes
Robert Herscu represents HQ Creative Office as the landlord in this lease agreement. Lucy Guo, as the tenant, operates the content creator platform Passes, which has entered into this lease to expand its business presence, supported by her noteworthy financial standing.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93