Just Sold | IREA Sets Price Per Square Foot Record
IREA Sets Price Per Square Foot Record for Non-Rent Controlled Multifamily in Reseda
At $313 per square foot, IREA’s Jonathan Krikorian, Clark Everitt, William Everitt, and David Leibowitz set a record for the highest price per square foot ever paid in Reseda for non-rent controlled multifamily with the closing of a pair of properties totalling 39 units. The properties, 18540 Wyandotte St and 7249 Baird Ave, both in Reseda, closed at $9,275,000 with a cap rate of 4.38% and a GRM of 13.75.
Clark Everitt, William Everitt, and Jonathan Krikorian are partners at IREA and represented the seller on the 27-unit property at Baird Ave. Filip Niculete, Vice President Investments, and Jonathan Erster, Senior Associate from Marcus & Millichap represented the seller on the 12-unit property at Wyandotte. The buyer for both properties was represented by IREA partner David Leibowitz.