4220 lankershim boulevad
NORTH HOLLYWOOD, CA 91602
SALE PRICE: $3,800,000
The Hirth Group is pleased to announce another successful closing! 4220 Lankershim Boulevard, a multi-story, multi-tenant post-production building located in the heart of the North Hollywood submarket, adjacent to Studio City. This property spans 9,386 square feet of building and is situated on a 5,500 square foot lot with on grade and subterranean parking for 23 cars. The seller, represented by Elijah Suval and Daniel Hirth, aimed to divest this asset in order to pursue another asset class.
Prior to bringing the property to market, our agents, led by Ethan Donel and Alex Reyhan, managed to identify a perfect owner-user who not only saw the value in the property but also presented an offer that the sellers were keen on. The buyer plans on occupying the building after current leases expire.
What made this transaction unique was the rapidly changing financial markets while securing financing due to the rise in interest rates and stricter lending regulations. The team skillfully negotiated three extensions to the escrow closing date for the buyer, concurrently providing non-refundable pass through dollars in excess of $300,000 to the seller. Throughout the entire process, The Hirth Group collaborated effectively, resulting in a successful sale of $3,800,000 or $404 per square foot.