Dennis Needleman Acquires Life Sciences Building On Long Beach Blvd For $9.3M
1525 Long Beach Boulevard, Long Beach, California 90813, United States
$9,305,717
$1,082/SF
Building Size
8,600 SF
Asset Type
Other
Closing
Jun 2, 2022
AI
The property involved in this transaction is a Life Sciences asset located at 1525 Long Beach Blvd in Long Beach. The property spans 8,600 square feet and was sold for a price of $9,305,717, resulting in a price per square foot of $1,082.
Summary of transaction details:
- Property Type: Life Sciences
- Transaction Amount: $9,305,717
- Address: 1525 Long Beach Blvd
- Market: Long Beach
The buyer in this transaction was Dennis Needleman, while Donald Devine acted as the seller. The brokers involved in the deal were Alvin Mansour, David Kern, Orbell Ovaness, and Ara Rostamian from The Mansour Group at Marcus & Millichap.
Players
Long Beach Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.70%
Cash-on-Cash
-0.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93