Hamed Yazdanpanah Acquires Office Building In West Hollywood For $11.5M
8229 Santa Monica Blvd, West Hollywood, CA, USA
$11,500,000
$525/SF
Building Size
21,906 SF
Asset Type
Office
Closing
Aug 19, 2021
AI
The office property located at 8229 & 8235 Santa Monica Blvd. in West Hollywood has been sold for $11,500,000. The transaction took place on August 19, 2021. This property spans a total area of 21,906 square feet, resulting in a price per square foot of $524.
Summary of transaction details:
- Property Type: Office
- Sale Price: $11,500,000
- Square Footage: 21,906
- Price per Square Foot: $524
- Date: 08/19/2021
- Address: 8229 & 8235 Santa Monica Blvd., West Hollywood
The buyer of the property is Hamed Yazdanpanah, while the seller is Alex Sirota. Conor Halloran and Brad McCoy from Lee & Associates Los Angeles West, Inc. represented the buyer, and Christian C. Holland, T.C. Macker, and Jennifer Moscoso from WESTMAC Commercial Brokerage Company represented the seller in this transaction.
Players
West Hollywood 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
1.38%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93