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11/17/22
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A 15.1k sf mixed-use building in Santa Monica traded hands in a $9.25 mil ($613/sf) transaction. The building, located at 1617 Broadway, was constructed in 2002 and recently remodeled.
Located half a mile from the beach, the structure has three stories, including an updated penthouse with spacious private balconies and furnished second floor. The ground floor consists of four live/work units, with modern creative office space on the second and third floors. The new owner plans to occupy the second floor and rent out the remaining space.
Kidder Mathews’ Darrell Levonian, Tanel Haruzade, and Brittney McCarthy represented the buyer, a private investor.
“This property was of great interest to the buyer due to its location in the heart of Santa Monica’s Media District and the high-end renovations throughout. The buyer recognized the value of the opportunity, and we closed the sale in just over three weeks,” said Levonian.
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