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2321 Main St, Santa Monica,...

Confirmed360 Acquires Santa Monica Office Building From Belzberg Architects For $7.6M
SOLDOffice

Confirmed360 Acquires Santa Monica Office Building From Belzberg Architects For $7.6M

2321 Main St, Santa Monica, CA 90405, USA

Building Size

5,000 SF

Asset Type

Office

Closing

Apr 30, 2020

AI

A closed property transaction took place at 2321 Main Street in Santa Monica. The property, an office building, was sold by Belzberg Architects to @Confirmed360, an experiential entertainment agency and curator catering to affluent buyers. The buyer, Matt Ampolsky, represented @Confirmed360 in the deal. The transaction was facilitated by Travis Majick from Lee & Associates.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $7,600,000
  • Square Footage: 5,000
  • Price per Square Foot: $1,520
  • Address: 2321 Main Street, Santa Monica
  • Market: Santa Monica

@Confirmed360, an experiential entertainment agency and curator, acquired the office property located at 2321 Main Street in Santa Monica from Belzberg Architects for a total amount of $7,600,000. The property spans 5,000 square feet with a price per square foot of $1,520. This acquisition was made by Matt Ampolsky, representing @Confirmed360, and the deal was facilitated by Travis Majick from Lee & Associates.

Players

Travis Majick

Lee & Associates

Broker

1 deal

Broker

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93