Government Of Bangladesh Acquires Office Building In Grove Adjacent, Los Angeles For $8.3M
501 South Fairfax Avenue, La Brea, Los Angeles, CA, USA
$8,300,000
$718/SF
Building Size
11,547 SF
Asset Type
Office
Closing
Jun 12, 2019
AI
The government of Bangladesh has acquired an office space located at 501 S. Fairfax in Los Angeles 90036 for a closing price of $8,300,000. The property, situated in the Grove Adjacent market, spans a total area of 11,547 square feet. The transaction marks the highest price per square foot this year for office space in Hollywood, Mid-City, or Park La Brea. The seller of the property was Miracle Mile Properties.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $8,300,000
- Address: 501 S. Fairfax, Los Angeles 90036
- Market: Grove Adjacent
- Square Footage: 11,547
Clark Everitt, William Everitt, Michael Pfeiffer, and Farideh Bogari from the Bogari Agency represented both the buyer and the seller in this transaction.
Players
Los Angeles 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
1.91%
Cash-on-Cash
-0.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93