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December 9, 2024 9:00 AM

�ǿ�����app����[1] announces it has arranged the off-market sale of 1260 Hayworth Avenue, a 40-unit multifamily property located in West Hollywood, California. The property was sold for $10.1 million, equating to $252,000 per unit and $397 per square foot.

�ǿ�����app���� Senior Managing Director , Managing Director , Senior Analyst and Co-Head of U.S. represented the buyer, the Festival Companies.

��1260 Hayworth was sold at a compelling value, reflecting the current dynamics of the shifting capital markets environment,�� said Muhlstein. “Despite these challenges, West Hollywood continues to thrive as a premier rental market, emphasized by its unparalleled location at the epicenter of Los Angeles�� entertainment, nightlife and employment hubs.��

Nestled between Sunset Boulevard and Santa Monica Boulevard, 1260 Hayworth Avenue offers a landscaped courtyard setting, surrounded by West Hollywood’s premier amenities. Residents benefit from the nearby Sunset Strip, Santa Monica Boulevard and Fairfax Avenue, offering world-class dining, shopping and entertainment options.

Munson added, “This rent-controlled asset offered a compelling opportunity for our 1031 buyer, providing significant upside potential through renovations and benefiting from its prime location in West Hollywood, a historically low-trade market with many generational owners.��

[1] Dba Nemark Knight Frank in California

About �ǿ�����app����
�ǿ�����app���� Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“�ǿ�����app������), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. �ǿ�����app����’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, �ǿ�����app���� provides superior service to clients across the industry spectrum. For the twelve months ended September 30, 2024, �ǿ�����app���� generated revenues of approximately $2.6 billion. As of that same date, �ǿ�����app����’s company-owned offices, together with its business partners, operated from nearly 170 offices with more than 7,800 professionals around the world. To learn more, visit nmrk.com or follow .

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