facebook

traded

+ Submit
Home

/

Deals

/

California

/

Office

/

Sale

/

1630 12th Street

David Zander Acquires Office Property In Santa Monica For $20.2M With Brad McCoy, David Wilson & George Wilson - Lee & Associates
SOLDOffice

David Zander Acquires Office Property In Santa Monica For $20.2M With Brad McCoy, David Wilson & George Wilson - Lee & Associates

1630 12th Street & 1638 12th Street

$20,200,000

$522/SF

Building Size

38,670 SF

Asset Type

Office

Closing

Sep 26, 2023

AI

An office property located at 1630-1638 12th Street in Santa Monica has been sold for a total price of $20,200,000. The property spans across 19,335 square feet, resulting in a price per square foot of $1,045. It was acquired by David Zander from the seller, Steaven Jones Development Company.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $20,200,000
  • Square Footage: 19,335 sqft
  • Price per Square Foot: $1,045
  • Address: 1630-1638 12th Street, Santa Monica
  • Buyer: David Zander
  • Seller: Steaven Jones Development Company
  • Buyer's Representative: Brad McCoy, David Wilson, and George Wilson - Lee & Associates

Brad McCoy, David Wilson, and George Wilson from Lee & Associates served as the buyer's representatives in this transaction. The deal involved the purchase of an office property in Santa Monica by David Zander from Steaven Jones Development Company. The property, located at 1630-1638 12th Street, spans across 19,335 square feet and was sold for a total price of $20,200,000 at a price per square foot of $1,045.

Players

Brad McCoy

Lee & Associates

Broker

$631.9M

vol

44 deals

Broker
David Zander

David Zander

Buyer

$261.1M

vol

11 deals

Buyer
MC
MQ Development CompanySeller

Santa Monica Office Market Snapshot

Boundary boundary · Office · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.79%

Cash-on-Cash

-0.22%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93