June 24, 2019
BLDG Partners sold eight creative office condominiums at The Enclave in Studio City for a combined price just north of $10.4 million. The property is comprised of 67 condominium units in 12 buildings at 3450 Cahuenga Blvd. that BLDG Partners acquired last year.
Lee & Associates’ Darren Casamassima and Scott Romick represented the seller.
Five of the condominiums totaling 11,630 square feet sold to a private investor for $6.75 million. The Lee team also represented the buyer of the units, which are fully leased.
Another two condos totaling 4,282 square feet, sold to a non-profit organization, Children of the Night, Inc., that will occupy the space for its own business use. Another condo totaling 2,361 square feet sold to trade group, the National Association of Theatre Owners, Inc., which will relocate its offices to the new space from Van Nuys.
Casamassima says, “This project provides a unique opportunity that office buyers really have not had in this market.”
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