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Harkham Family Acquires Fairfax Property For $17.1M With Brokers Jay Luchs & Genny Chang

Property Image
SOLD
$17,100,000
Genny Chang
Jay Luchs
HF

California

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Retail13,000 SF
Sold
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Property Image
SOLD

Harkham Family Acquires Fairfax Property For $17.1M With Brokers Jay Luchs & Genny Chang

157 Fairfax Avenue, Los Angeles, California 90036, United States

See Similar Deals
Retail13,000 SF
Sold
Genny Chang
Jay Luchs
HF
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$1315
Total Square Footage:13000 SF
Transaction Type:Sale

The property located at 157 S Fairfax in Fairfax has been sold in a transaction that closed on 2/20/22. The property spans 13,000 square feet and was sold for a total price of $17.1 million. This translates to a price per square foot of $1,315.

Summary of transaction details

  • Property Type: Sale
  • Transaction Amount: $17.1M
  • Square Footage: 13,000
  • Address: 157 S Fairfax
  • Market: Fairfax
  • Date: 2/20/22

The buyer of the property is the Harkham Family, while the seller is K G Fairfax Properties. The deal was facilitated by brokers Jay Luchs and Genny Chang of Jay Luchs Group at Newmark.

Notably, the property is situated directly across from the Farmers Market on Fairfax and is adjacent to Trader Joe's.

Players

Jay Luchs
Newmark
Jay Luchs
42 deals$2B volume(310) 407-6585
BROKER
Genny Chang
Newmark
Genny Chang
1 deal$17.1M volume
BROKER
HF
Harkham Family
8 deals$357.4M volume
BUYER

Details

SOLD
IMAGE: Jay Luchs, Aron Harkham, and Genny Chang ADDRESS: 157 S Fairfax MARKET: Fairfax DATE: 2/20/22 BUYER: Harkham Family SELLER: K G Fairfax Properties BROKERS: Jay Luchs & Genny Chang of Jay Luchs Group @Newmark PRICE: $17.1M ~ PPSF $1,315 SF: 13K NOTE: The property is located directly across from the Farmers Market on Fairfax, adjacent to @TraderJoes.

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Deal Type
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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$60,752.69
Cash-on-Cash Return-1.27%
Monthly Debt Service$81,062.72
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