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LaTerra Development Acquires Multifamily Property In West Hollywood For $29.2M

1121 North La Cienega Boulevard
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This MultiFamily property located in CA was sold for $29,200,000 over 2 years ago. The brokers of the deal were Paul Darrow, Joseph "Joe" Grabiec, Gregory (Greg) Harris, and Kevin Green

In a recent closed transaction in West Hollywood, a multifamily property located at 1121 North La Cienega Blvd has been sold. The sale took place on November 24, 2021. The property, comprising 42 units, spans across 48,682 square feet. The sale price for this multifamily asset was $29,200,000, resulting in a price per unit (PPU) of $695,238 and a price per square foot (PPSF) of $599.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $29,200,000
  • Address: 1121 North La Cienega Blvd
  • Market: West Hollywood
  • Total Units: 42
  • Price per Unit (PPU): $695,238
  • Square Footage: 48,682
  • Price per Square Foot (PPSF): $599

LaTerra Development, represented by Chris Tourtellotte, acquired the multifamily property. The purchase was facilitated with the assistance of brokers Paul Darrow, Greg Harris, Kevin Green, and Joe Grabiec from THG Multifamily. The involvement of these key individuals and companies played a crucial role in the successful completion of the transaction.

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Deals
  • Location
    1121 N La Cienega Blvd, West Hollywood, CA, USA1121 N La Cienega Blvd, West Hollywood, CA, USA
  • Sale Price
    $29,200,000$29,200,000
    $599 PPSF$599 PPSF
  • Area
    48,682 SF48,682 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    4 Brokers, 2 Agencies4 Brokers, 2 Agencies

Agents

Paul Darrow

Paul Darrow

Deals10
Sold$141.7M

Agencies

Walker & Dunlop

Walker & Dunlop

Agency
Deals609
Volume$76.5B

Marcus & Millichap

Marcus & Millichap

Agency
Deals6999
Volume$66B

Social

Deal Summary

SALE IMAGE: Paul Darrow & Chris Tourtellotte DATE: 11/24/2021 ADDRESS: 1121 North La Cienega Blvd. MARKET: West Hollywood ASSET TYPE: Multifamily BUYER: LaTerra Development - Chris Tourtellotte (@ChrisTourtellotte) BROKERS: Paul Darrow (@I.Am.Paul.D), Greg Harris, Kevin Green & Joe Grabiec - THG Multifamily SALE PRICE: $29,200,000 UNITS: 42 ~ PPU: $695,238 SF: 48,682 ~ PPSF: $599

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1121 North La Cienega Boulevard

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