Updated Dec 4, 2024
Michael Shabani Acquires Retail Property In West Hollywood For $19.2M
8379 Melrose Avenue, West Hollywood, California 90069, United States
$19,200,000
$5,862/SF
Building Size
3,275 SF
Asset Type
Retail
Closing
Apr 14, 2022
About this deal
AI
8379 Melrose Ave. in West Hollywood has been sold for a price of $19,200,000. The property is a retail asset with a total square footage of 3,275. The sale price per square foot is $5,862. The transaction took place on April 15, 2022.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $19,200,000
- Address: 8379 Melrose Ave.
- Market: West Hollywood
- Square Footage: 3,275
The buyer for this transaction is Michael Shabani, while the seller is Sterling Organization. The deal was facilitated by Geoff Tranchina and Tim Kuruzar from JLL.
On the Map
$19,200,000
$5,862/SF
Retail
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Players
West Hollywood 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
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93