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1222 6th Street

Dedeaux Properties Acquires Office Building In Santa Monica For $12M
SOLDOffice

Dedeaux Properties Acquires Office Building In Santa Monica For $12M

1222 6th Street

$12,000,000

$523/SF

Building Size

22,936 SF

Asset Type

Office

Closing

Dec 15, 2022

AI

An office property located at 1222 6th Street in Santa Monica has been sold in a transaction valued at $12,000,000. The property spans 11,468 square feet, resulting in a price per square foot of $1,046. The sale took place on 12/15/2022.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $12,000,000
  • Address: 1222 6th Street
  • Market: Santa Monica
  • Buyer: Dedeaux Properties
  • Seller: Maxxam Enterprises
  • Brokers: Bob Safai - Madison Partners

Bob Safai from Madison Partners represented both the buyer, Dedeaux Properties, and the seller, Maxxam Enterprises, in this transaction. The deal represents a significant investment in the Santa Monica office market and highlights the confidence of both parties in the value of the property.

Players

Bob Safai

Broker

$878.3M

vol

16 deals

Broker
DP
Dedeaux PropertiesBuyer
ME
Maxxam EnterprisesSeller

Santa Monica 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

1.32%

Cash-on-Cash

-0.38%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93