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Cushman & Wakefield's Brokers Facilitate $46 Million Office Sale In Los Angeles

Property Image
SOLD
$46,000,000
Erica Finck
Kylie Rawn
+ 4

California

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Office102,963 SF
Sold 01/22/2025
the dealplayerscompscontact
Property Image
SOLD

Cushman & Wakefield's Brokers Facilitate $46 Million Office Sale In Los Angeles

1019 East 4th Place

See Similar Deals
Office102,963 SF
Sold 01/22/2025
Erica Finck
Kylie Rawn
+ 4
Contact now

Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$446
Total Square Footage:102,963 SF
Transaction Type:Sale

The asset involved in this transaction comprises office properties located at 405 Mateo Street, 1003 4th Street, and 1019 4th Place in the Los Angeles market. The total sale price for the transaction was $46,000,000, which equates to approximately $446 per square foot over a total area of 102,963 square feet.

Summary of transaction details:

The transaction featured several key representatives, with the buyer's side being represented by a team from Cushman & Wakefield while the seller was represented by Eastdil Secured. This collaborative effort among industry professionals facilitated the successful completion of the sale.

Players

Mike Condon Jr.
26 deals$1.2B volume
BROKER

Kylie Rawn
Cushman & Wakefield
7 deals$285.1M volume
BROKER

Erica Finck
Cushman & Wakefield
11 deals$648.6M volume(213) 426-3052
BROKER

Bob Thagard
Cushman & Wakefield
1 deal$46M volume(949) 372-4909
BROKER

Reid Gratsch
Cushman & Wakefield
7 deals$313.1M volume(310) 943-5526
BROKER

Stephen Somer
Eastdil Secured
1 deal$46M volume(310) 526-9293
BROKER

Brooke Silver
Eastdil Secured
1 deal$46M volume(310) 526-9127
BROKER

Details

SOLD
IMAGE: Kylie Rawn, Erica Finck, Reid Gratsch, Mike Condon Jr., Bob Thagard, Stephen Somer & Brooke Silver DATE: 01/22/2025 ADDRESS: 405 Mateo Street, 1003 4th Street & 1019 4th Place MARKET: Los Angeles ASSET TYPE: Office BUYER'S REP: Mike Condon Jr. (@MikeCondonsation), Erica Finck, Reid Gratsch, Kylie Rawn & Bob Thagard - Cushman & Wakefield (@CushWake) SELLER'S REP: Stephen Somer & Brooke Silver - Eastdil Secured (@EastdilSecured) SALE PRICE: $46,000,000 SF: 102,963 ~ PPSF: $446

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,453,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$163,428.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$218,063.47
Annual Debt Service$2,616,761.62