Updated Oct 28, 2024
CAL Arts Acquires Office Building In Echo Park For $1.9M From Seller Neil Gitnick
1264 West 1st Street, Los Angeles, CA, USA
$1,913,000
$587/SF
Building Size
3,258 SF
Asset Type
Office
Closing
Jun 25, 2020
About this deal
AI
The office property located at 1264 W. 1st Street in Echo Park has been sold in a transaction that was finalized on June 25, 2021. The property, spanning 3,258 square feet, was acquired by CAL Arts from Neil Gitnick. The sale price for the property was $1,913,000, resulting in a price per square foot of $587.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $1,913,000
- Buyer: CAL Arts
- Seller: Neil Gitnick
- Brokers: Jay Martinez, Michael Criswell, Elizabeth Clark, and Olivia Robertson
The deal was facilitated by brokers Jay Martinez, Michael Criswell, Elizabeth Clark, and Olivia Robertson, who represented the respective parties involved in the transaction.
Players
Los Angeles Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Deal FAQ
Visit Olivia Robertson to view all their deals.
Browse California office sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.29%
Cash-on-Cash
-2.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93