Joel Chen Acquires Hollywood Office Building On N. Highland Avenue For $17.2M
921-931 North Highland Avenue, Central LA, Los Angeles, CA, USA
$17,200,000
$983/SF
Building Size
17,490 SF
Asset Type
Office
Closing
Nov 18, 2021
AI
The office property located at 921-931 N. Highland Avenue in Hollywood has been sold for a total price of $17,200,000. The property spans a total area of 17,490 square feet, resulting in a price per square foot of $983. The sale took place on November 19, 2021.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $17,200,000
- Address: 921-931 N. Highland Avenue
- Market: Hollywood
The buyer in this transaction was Joel Chen, while the seller was the Taylor Family Trust. Steven Salas from Newmark Group Inc. represented the buyer, and Daniel Chiprut represented the seller.
Players
Los Angeles Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.92%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93