Updated Oct 29, 2024
LPC West Acquires Hollywood Office Building For $186M
959 Seward Street
$186,000,000
$712/SF
Building Size
261,000 SF
Asset Type
Office
Closing
Apr 1, 2021
About this deal
AI
The transaction involves the sale of an office property located at 959 Seward St in Hollywood. The property, spanning 261,000 square feet, was sold for a price of $186,000,000, resulting in a price per square foot of $712. The seller of the property was J.H. Snyder Co. represented by Michael Wise, while the buyer was LPC West represented by Rob Kane & Geyser Holdings.
Summary of transation details
- Property Type: Office
- Transaction Amount: $186,000,000
- Square Footage: 261,000
- Price per Square Foot: $712
- Address: 959 Seward St
- Market: Hollywood
Rob Kane and Geyser Holdings, representing LPC West, were the buyers in this transaction. On the seller's side, J.H. Snyder Co. was represented by Michael Wise. These key individuals and companies played a crucial role in facilitating the sale of the office property.
On the Map
$186,000,000
$712/SF
Office
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93