Bernadette Cruz Moxey Acquires Santa Monica Office Building For $6.5M
1656 9th Street, Santa Monica, California 90404, United States
$6,500,000
$1,300/SF
Building Size
5,000 SF
Asset Type
Office
Closing
Feb 4, 2022
AI
The office property located at 1656 9th Street in Santa Monica has been sold for a price of $6,500,000. The property spans across 4,052 square feet, resulting in a price per square foot of $1,604. The transaction took place on February 4, 2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $6,500,000
- Address: 1656 9th Street, Santa Monica
- Market: Santa Monica
- Buyer: Bernadette Cruz Moxey
- Seller: Bonnie Goldfarb & Baker Smith
- Buyer's Representative: Darren Casamassima - Lee & Associates
- Seller's Representatives: George Wilson, Brad McCoy, and David Wilson - Lee & Associates West LA
George Wilson, Brad McCoy, and David Wilson from Lee & Associates West LA represented the sellers in the deal. The buyers were represented by Darren Casamassima from Lee & Associates. This transaction marks the sale of the office property in Santa Monica, with a purchase price of $6,500,000.
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
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93