Kidder Mathews’ Darrell Levonian, Tanel Harunzade, and Brittney McCarthy represented a private investor in purchasing a property at 1617 Broadway in Santa Monica for $9,250,000.
The mixed-use building was constructed in 2002 and recently remodeled. Located half a mile from the beach, it comprises ±15,110 total square feet across 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.
“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.
About Kidder Mathews
Kidder Mathews is the largest independent commercial real estate firm on the West Coast, with 900 real estate professionals and staff in 20 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, asset services, consulting, project and construction management, and debt & equity finance services for all property types. The firm performs $10.9 billion in transactions, manages 52 million square feet of space, and conducts over 2,600 appraisals annually. For more information, visit kidder.com.