Jonathan Bloch Acquires Development Site In Hancock Park For $1.48M | 245 North Gramercy Place | Glen Scher, Filip Niculete | Development Site | Sale

Summary

Sale

CALIFORNIA

Development Site

6,000 sqft

Jonathan Bloch has acquired a development site in Hancock Park, Los Angeles. The property, located at 245 N. Gramercy Place, was sold by Chol Kim. The transaction was facilitated by the LAAA Team from Marcus & Millichap, with Filip Niculete and Glen Scher serving as the brokers. The sale price for the property was $1,480,000.

Summary of transaction details:

Property Type: Development Site
Transaction Amount: $1,480,000
Date: 08/30/2021
Address: 245 N. Gramercy Place
Market: Hancock Park
Buyer: Jonathan Bloch
Seller: Chol Kim
Brokers: Filip Niculete, Glen Scher (LAAA Team) - Marcus & Millichap

The development site in Hancock Park spans 6,884 square feet and is classified as (Q)R3-1 & TOC-2 zoning. It is currently unentitled but has the potential for development. The property allows for 5 units to be built by-right, with an additional 10 units possible with the TOC Bonus.

Players

All
3

Agents
2
Agencies
1

Glen Scher

Senior Vice President

$627.1M Sold

Filip Niculete

Senior Managing Director

$667.6M Sold

Marcus & Millichap

Details

Deal Summary

SOLD

IMAGE: Glen Scher & Filip Niculete DATE: 08/30/2021 ADDRESS: 245 N. Gramercy Place MARKET: Hancock Park ASSET TYPE: Development Site BUYER: Jonathan Bloch SELLER: Chol Kim BROKERS: Filip Niculete (@FNiculete), Glen Scher (@ScherGlen) (LAAA Team) (@LAAATeam) - Marcus & Millichap SALE PRICE: $1,480,000 BSF: 6,000 ~ PPBSF: $246 NOTES: Hancock Park, Unentitled Development 6,884 SqFt Lot, (Q)R3-1 & TOC-2 Buildable Units: 5 Units By-Right, 10 Units w/ TOC Bonus

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Address245 North Gramercy Place

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