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Sunday, Jul 14, 2024

REAL ESTATE: Glaser


Glaser

Jake Glaser of Lyon Stahl just completed the sale of 2707 Beverly Blvd in Rampart Village for $13,000,000 at $448/SF, which is an all-time record high for the 90057- zip code. The 29,024 SF flex industrial property sits on 30,391 SF of land and was entitled to build a 119-unit mixed-use multifamily development. It last traded in December 2010 for $2,800,000. The buyer is a non-profit hospitality training academy that plans to utilize the site to train staff for the 2028 LA Summer Olympics. Given the buyer’s 501(c) (3) status, the transaction was fully exempt from the LA City Mansion Tax, resulting in a savings of $715,000. Matt Sundberg of Matthews assisted in representing the seller. Glaser is in his fourth year in the business and has already amassed over $150MM of transactions.

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