Updated Oct 29, 2024
NHN Global Inc Acquires Office Building In DTLA For $22M
510 South Broadway, Los Angeles, CA 90013, USA
$22,000,000
$595/SF
Building Size
36,974 SF
Asset Type
Office
Closing
Jan 22, 2019
About this deal
AI
Located in the heart of DTLA, the office property at 510 Broadway recently changed hands in a closed transaction. The sale, which took place on January 23, 2019, saw NHN Global Inc acquire the property from RYDA for a substantial sum of $22 million. With a total area of 36,974 square feet, the office space was purchased at a price of $595 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $22 million
- Address: 510 Broadway
- Market: DTLA
Facilitating the deal were brokers Andrew Tashjian and Michael Gooch from CushWake, as well as Carle Pierose from Industry Partners. Their expertise and negotiation skills played a significant role in ensuring a successful transaction for both buyer and seller.
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
0.72%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93