Updated Dec 4, 2024
Shawn Matian And Dr. Amiel Moshfegh Acquire Office Building From Sam Solomon For $11.6M
8733 Beverly Boulevard
$11,600,000
$593/SF
Building Size
19,536 SF
Asset Type
Office
Closing
Jul 23, 2024
About this deal
AI
This transaction involved a 4-story Medical Office Building located at 8733 Beverly Boulevard in West Hollywood. The sale price was $11,600,000, with a total square footage of 19,536, resulting in a price per square foot of $594.
Summary of transation details:
- Property Type: Office
- Transaction Amount: $11,600,000
- Square Footage: 19,536
- Price Per Square Foot: $594
- Buyer: Shawn Matian & Dr. Amiel Moshfegh
- Seller: Sam Solomon
- Broker: Jason Cole - Marcus & Millichap
- Date of Sale: 07/23/2024
- Market: West Hollywood
Jason Cole represented both the Buyer and the Seller in this off-market transaction. The property is strategically located directly across from the entrance to Cedars Sinai Medical Center, marking it as a distinctive asset in a competitive real estate market.
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
1.37%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93