Updated Aug 27, 2026
Marvin Lai Purchases Office Asset From Durta Pakpour In Santa Monica For $3,725,000
1412 14th Street
$3,725,000
$931/SF
Building Size
4,000 SF
Asset Type
Office
Closing
Aug 12, 2026
About this deal
AI
The property asset involved in this transaction is an office building located at 1412 14th Street in the Santa Monica market. It was sold for $3,725,000, encompassing a total of 4,000 square feet, resulting in a price per square foot of $931.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $3,725,000
- Square Footage: 4,000
- Price Per Square Foot: $931
- Buyer: Marvin Lai
- Seller: Durta Pakpour
- Brokers: T.C. Macker & Woody Cook, Christian C. Holland & Jeffrey M Pickett - WESTMAC Commercial Brokerage Company
This deal involved key individuals, including the buyer Marvin Lai and seller Durta Pakpour. The brokers representing the transaction were T.C. Macker, Woody Cook, Christian C. Holland, and Jeffrey M Pickett, all associated with WESTMAC Commercial Brokerage Company, facilitating the successful exchange of the property.
Players
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
4.26%
Cash-on-Cash
-1.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93