Updated Oct 29, 2024
Christina Development Corp. Acquires Retail Property In Larchmont Village For $23.5M
128 North Larchmont Boulevard, Los Angeles, CA, USA
$23,500,000
$1,382/SF
Building Size
17,000 SF
Asset Type
Retail
Closing
Oct 11, 2018
About this deal
AI
The retail property located at 124-128 N Larchmont Blvd in Larchmont Village, LA has been sold. The transaction took place on 10/12/2018 and the property was purchased for a total price of $23,500,000. The retail space spans 17,000 square feet and has a price per square foot of $1,372.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $23,500,000
- Address: 124-128 N Larchmont Blvd
- Market: Larchmont Village, LA
The buyer of the property is Christina Development Corp., while the seller is the Charlotte Lipson Trust of Studio City. The deal was facilitated by broker representatives Elsa Nelson and Albert McLaughlin of Nelson Shelton Real Estate, along with Matthew Dobson and Joshua Levy of Arbor Realty Capital Advisors.
"The new owner is really a perfect fit for this property," Levy said in a statement. "He is truly a steward of real estate and has strong family ties to the (nearby) Hancock Park neighborhood." (LABJ)
Players
Los Angeles Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.68%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93