July 27, 2017 Comments Off on Financing Arranged for First New Lux Condo Dev in “Hot” Silver Lake Views: 868 California News, Los Angeles

Financing Arranged for First New Lux Condo Dev in “Hot” Silver Lake

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George Smith Partners secured $21.6 million in ground-up construction financing for the development of 35 for-sale condominium units and 2,000 square feet of ground-floor retail space in Los Angeles’ Silver Lake neighborhood. Developed by a joint-venture between Barth Partners and Barry Leddy Developments, the project at 3400 Sunset Boulevard will be the first new luxury condominium development built in the submarket since the Recession.

Located at Sunset Boulevard and Micheltorena Avenue, near the iconic Sunset Junction, the mid-rise condominium will include ground-floor retail/restaurant space. Community amenities include a resort-style pool and spa, meditation garden, state-of-the-art gym, conference rooms for residents who work from home, and a rooftop deck overlooking downtown LA and the Griffith Park Observatory.

George Smith Partners’ Jonathan Lee arranged the financing. “This new development will provide homebuyers with a rare opportunity to own in one of the hottest neighborhoods in Los Angeles,” said Lee.

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