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6/01/16
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Micropolitan recently purchased SixThirtyNine, a 0.46-acre development site slated for a multi-housing community in Los Angeles’ Fairfax Village District.The property was sold for $11.1 mil, free and clear of debt by Ness Holdings Inc.
SixThirtyNine is located at 639-645 North Fairfax Avenue in the highly-desirable Fairfax Village District, which is just south of Melrose Ave, adjacent to West Hollywood, immediately north of The Grove lifestyle center and a few blocks from several of Los Angeles’ most sought-after restaurants. The site has a Walk Score® of 93 and is slated for a market-rate multi-housing development. Once completed, SixThirtyNine will offer panoramic views of Los Angeles, including downtown, the Hollywood sign, Griffith Observatory and the Hollywood Hills.
Blake A. Rogers of HFF represented the seller in the deal.
“The site went through a competitive bidding process with several highly-qualified developers, both local and national, vying for the project,” Rogers said. “Ultimately, Micropolitan was awarded the deal given their track record, pricing and timing to close.”
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