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Tristan Schukraft Buys Retail Property In West Hollywood For $45M

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SOLD
$45,000,000

California

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Retail12,500 SF
Sold 04/22/2024
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Property Image
SOLD

Tristan Schukraft Buys Retail Property In West Hollywood For $45M

698 North Robertson Boulevard

See Similar Deals
Retail12,500 SF
Sold 04/22/2024
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Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$3,600
Total Square Footage:12,500 SF
Transaction Type:Sale

The retail property located at 698 North Robertson Boulevard in West Hollywood was sold for $45,000,000. The property spans 12,500 square feet, resulting in a price per square foot of $3,600. The sale involved the fee simple, leasehold interest, and businesses at the Abbey and the Chapel.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $45,000,000
  • Address: 698 North Robertson Boulevard
  • Market: West Hollywood
  • Buyer: Tristan Schukraft
  • Seller: David Cooley
  • Buyer's Rep: Leslie Haro - CityStreet Commercial
  • Seller's Rep: Matthew Luchs

Leslie Haro from CityStreet Commercial represented the buyer, Tristan Schukraft, in the transaction. The seller, David Cooley, was represented by Matthew Luchs. The sale included not only the property but also the businesses at the Abbey and the Chapel, adding further depth to the deal.

Players

Leslie Haro
5 deals$69.6M volume(323) 395-1479
BROKER

Matthew Luchs
Zacuto Group
90 deals$494.5M volume(818) 519-1429
BROKER

Details

SOLD
IMAGE: Tristan Schukraft & Leslie Haro DATE: 04/22/2024 ADDRESS: 698 North Robertson Boulevard MARKET: West Hollywood ASSET TYPE: Retail BUYER: Tristan Schukraft SELLER: David Cooley BUYER'S REP: Leslie Haro (@LeslieHaro_) - CityStreet Commercial (@CityStreetCRE) SELLER'S REP: Matthew Luchs ASKING PRICE: $50,000,000.00 SALE PRICE: $45,000,000 SF: 12,500 ~ PPSF: $3,600 NOTE FROM BUYER'S REP: The sale included the fee simple, leasehold interest and business’ at the Abbey and the Chapel.

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

$2,400,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$159,875.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$213,322.96
Annual Debt Service$2,559,875.50