SOLD
Frank Melkonian Acquires Development Site In Van Nuys For $2.9M
14557 Friar Street
Development Site
37,032 SF
37,032 SF
Sold 1 year ago
Summary
Sale
CALIFORNIA
Development Site
37,032 sqft
14557 Friar Street, located in Van Nuys, was recently closed in a successful transaction. This development site offers a great opportunity for investors, with a total buildable area of 37,032 square feet. The property was sold for a price of $2,925,000, resulting in a price per buildable square foot of $78.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,925,000
- Buyer: Frank Melkonian
- Seller: Roy Rubanenko
- Brokers: Ethan Donel, Alex Reyhan, and Daniel Hirth - Hirth Group
Ethan Donel, Alex Reyhan, and Daniel Hirth of Hirth Group played a crucial role in the completion of this deal. They represented both the buyer, Frank Melkonian, and the seller, Roy Rubanenko. Their expertise helped facilitate a smooth transaction, and they worked closely with the architectural team to meet the buyer's requirements. The buyer's due diligence contingency was removed sooner than expected, leading to an all-cash transaction.
Players
All
4
Agents
3
Agencies
1
Details
SOLD
IMAGE: Alex Reyhan, Ethan Donel & Daniel Hirth
DATE: 05/16/2022
ADDRESS: 14557 Friar St.
MARKET: Van Nuys
ASSET TYPE: Development Site
BUYER: Frank Melkonian
SELLER: Roy Rubanenko
BROKERS: Ethan Donel (@EthanDonel), Alex Reyhan (@Ry__All) & Daniel Hirth (@DHirth5) - Hirth Group (@HirthGroup)
SALE PRICE: $2,925,000
BSF: 37,032 ~ PPBSF: $78
NOTE FROM @HirthGroup: Ethan Donel, Alex Reyhan, & Daniel Hirth of the Hirth Group are proud to announce the successful closing of 14557 Friar Street – a 42-unit development opportunity. The Hirth Group represented both seller & buyer in this transaction. During escrow we worked in congruent with the architectural team to help satisfy the buyers needs & ultimately had the buyer remove their due diligence contingency sooner than expected. This was an all cash transaction.View on map
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Address14557 Friar Street
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