Wiseman Residential Acquires Development Site On Santa Monica Boulevard For $13.75M

The development site located at 11261 Santa Monica Boulevard has been sold in a closed transaction. The property, totaling 27,890 square feet, was acquired by Wiseman Residential for a price of $13,750,000. The purchase price per buildable square foot (PPBSF) is approximately $493.01. The transaction included a total of 119 units.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $13,750,000
• Address: 11261 Santa Monica Boulevard
• Buyer: Wiseman Residential - Michael Cohanzad
• Seller: BLT Enterprises - Bernard Huberman & Robert Solomon
• Brokers: Newmark Knight Frank - Anthony Muhlstein, Brian Bowis
• BSF: 27,890
• PPBSF: $493.01
• Units: 119

The transaction involved the buyer, Wiseman Residential, represented by Michael Cohanzad, and the seller, BLT Enterprises, with Bernard Huberman and Robert Solomon as the company's representatives. The deal was facilitated by brokers Anthony Muhlstein and Brian Bowis from Newmark Knight Frank.