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8229 Santa Monica Blvd, Wes...

Hamed Yazdanpanah Acquires Office Building In West Hollywood For $11.5M
SOLDOffice

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

Jennifer Moscoso

WESTMAC Commercial Brokerage Company

Broker

$241.9M

vol

30 deals

Broker

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