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1122 Wilshire Boulevard, Do...

Dordick Law Building East Acquires Office Property On Wilshire Blvd. For $7.35M
SOLDOffice

Dordick Law Building East Acquires Office Property On Wilshire Blvd. For $7.35M

1122 Wilshire Boulevard, Downtown, Los Angeles, CA, USA

$7,350,000

$440/SF

Building Size

16,680 SF

Asset Type

Office

Closing

Jun 17, 2020

AI

The Dordick Law Building East, located at 1122 Wilshire Boulevard in Downtown Los Angeles, has been sold in a recent office property transaction. The property spans an area of 16,680 square feet, and the sale price amounted to $7,350,000, resulting in a price per square foot of $441. The transaction took place on June 17, 2021.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: $7,350,000
  • Address: 1122 Wilshire Boulevard, Downtown Los Angeles
  • Market: Downtown Los Angeles

Leading this transaction, the buyer was Gary Dordick, representing the Dordick Law Building East. On the seller's side, Lee Lipscomb, from G&L Aviation, oversaw the sale. The deal was facilitated by brokers John Anthony, Chris Steck, and Chris Giordano from Kidder Mathews, along with Kyle Dordick and Marc Noah from Hilton & Hyland.

Players

Kyle Dordick

Hilton & Hyland

Broker

$49.2M

vol

8 deals

Broker

Gary Dordick

Buyer

$12M

vol

2 deals

Buyer

Los Angeles Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.16%

Cash-on-Cash

-0.62%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93