Updated Dec 13, 2024
The Gorowitz Family Trust Purchases Office Building At 1600 Franklin Avenue In El Segundo For $9.2M
1600 East Franklin Avenue
$9,217,500
$542/SF
Building Size
17,000 SF
Asset Type
Office
Closing
Dec 12, 2024
About this deal
AI
The Gorowitz Family Trust purchased a creative office building located at 1600 Franklin Avenue in El Segundo. The asset encompasses 17,000 square feet and was acquired for a price of $9,217,500, translating to a price per square foot of $542.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $9,217,500
- Square Footage: 17,000
- Address: 1600 Franklin Avenue
- Market: El Segundo
- Buyer's Representative: Alex Kogan & Richard Rizika - Beta Agency
- Seller's Representative: John Lane, Richard Melbye & Robert Healey Jr. - CBRE
The transaction included key stakeholders from both the buyer's and seller’s sides, with the Gorowitz Family Trust being represented by Alex Kogan and Richard Rizika from Beta Agency. On the other side, the seller was represented by John Lane, Richard Melbye, and Robert Healey Jr. from CBRE. The property will be repurposed as a family office in the Smoky Hollow district.
On the Map
$9,217,500
$542/SF
Office
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El Segundo 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
1.72%
Cash-on-Cash
-0.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93