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Nathan Lowenstein & James Leatherwax Acquire Santa Monica Office Building For $5.9M

Property Image
SOLD
$5,985,600
Christopher Drzyzga
April Foster
+ 3

California

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Office7,482 SF
Sold 07/21/2021
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Property Image
SOLD

Nathan Lowenstein & James Leatherwax Acquire Santa Monica Office Building For $5.9M

1012 Pico Blvd, Santa Monica, CA, USA

See Similar Deals
Office7,482 SF
Sold 07/21/2021
Christopher Drzyzga
April Foster
+ 3
Contact now

Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$800
Total Square Footage:7,482 SF
Transaction Type:Sale

1012-1016 Pico Blvd. in Santa Monica has been sold in a closed transaction. The property is an office asset, spanning 7,482 square feet. The sale took place on July 21, 2021. The buyers of the property are Nathan Lowenstein and James Leatherwax, while the sellers are Sean Alatorre and Ryan Cramer. The transaction was facilitated by the brokerage firm Kidder Mathews, with John Anthony, Chris Steck, and Chris Giordano representing the buyers. On the seller's side, Travis Forster, Christopher Drzyzga, and April Foster from Voit provided representation. The final sale price for the property was $5,985,600, resulting in a price per square foot of $800.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $5,985,600
  • Address: 1012-1016 Pico Blvd., Santa Monica
  • Market: Santa Monica

This transaction involved several key individuals and companies. Nathan Lowenstein and James Leatherwax served as the buyers, while Sean Alatorre and Ryan Cramer acted as the sellers. John Anthony, Chris Steck, and Chris Giordano from Kidder Mathews represented the buyers, and Travis Forster, Christopher Drzyzga, and April Foster from Voit represented the sellers. The deal was closed successfully, resulting in the sale of the office property.

Players

John Anthony
14 deals$91.8M volume
BROKER

Christopher "Chris" Steck
Kidder Mathews
14 deals$91.8M volume
BROKER

Christopher "Chris" Giordano
Kidder Mathews
13 deals$88.5M volume
BROKER

Travis Forster
1 deal$6M volume
BROKER

April Foster
1 deal$6M volume
BROKER

Christopher Drzyzga
Voit Real Estate Services
1 deal$6M volume
BROKER

Details

SOLD
IMAGE: John Anthony, Chris Steck & Chris Giordano DATE: 07/21/2021 ADDRESS: 1012-1016 Pico Blvd. MARKET: Santa Monica ASSET TYPE: Office BUYER: Nathan Lowenstein & James Leatherwax SELLER: Sean Alatorre & Ryan Cramer BUYER’S REP: John Anthony (@JohnAnthony445), Chris Steck (@SteckFace86) & Chris Giordano (@ChrisGio08) - (@KM_LA_Office_Team) - Kidder Mathews SELLER’S REP: Travis Forster (@ForsterCommercial), Christopher Drzyzga & April Foster - Voit SALE PRICE: $5,985,600 SF: 7,482 ~ PPSF: $800

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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