Stephen Mohme Acquires Office Asset In Manhattan Beach For $11.08M With Ryan Sharpe As Buyer's Rep
2501 North Sepulveda Boulevard
$11,075,000
$563/SF
Building Size
19,671 SF
Asset Type
Office
Closing
Jan 30, 2025
AI
The asset involved in this transaction is an office property located at 2501 North Sepulveda Boulevard in the Manhattan Beach market. The property sold for $11,075,000, encompassing a total square footage of 19,671 and having a price per square foot of $563.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $11,075,000
- Square Footage: 19,671
- Price Per Square Foot: $563
- Buyer: Stephen Mohme
- Seller: Jim Van Zanten
- Buyer's Representative: Ryan Sharpe - Kidder Mathews
- Seller's Representatives: Geoff Ludwig & Eric Lastition - Newmark; Jim Van Zanten - Vista Sotheby’s International Realty
The key individuals in this transaction include Buyer Stephen Mohme and Seller Jim Van Zanten. The deal was facilitated by Ryan Sharpe from Kidder Mathews representing the buyer, while the seller was represented by Geoff Ludwig and Eric Lastition from Newmark, alongside Jim Van Zanten from Vista Sotheby’s International Realty, indicating a collaborative effort among multiple representatives in this transaction.
Players
Manhattan Beach 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
1.43%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93