SALE PRICE: $2,925,000

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Ethan Donel, Alex Reyhan, and Daniel Hirth of the Hirth Group are proud to announce the successful closing of 14557 Friar Street – a 42-unit development opportunity. The subject property is situated in Downtown Van Nuys, near the intersection of Van Nuys Blvd & Victory Blvd. The Hirth Group represented both seller and buyer in this transaction. 

 

With our experience and resume in the Van Nuys submarket we were selected to represent the seller in this transaction. Throughout the last couple of years, the seller worked with local architects who we were very familiar with to entitle the site for 42-unit mixed-use development site. The lot is zoned [Q]C2-1L-CDO TOC Tier 4 and located within an opportunity zone. 

 

During escrow we worked in unison with the architectural team to help satisfy the buyers needs and had the buyer remove their due diligence contingency sooner than expected. Ultimately, our buyer closed on the deal with a 13-day due diligence period, 30-day close and all-cash.

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