Emry and Victor Hadad Acquire Development Site in Picfair Village for $5.7M
Emry Hadad and Victor Hadad acquire a development site in Picfair Village for $5.7M from Ketter Group and David Levy.
Emry Hadad and Victor Hadad have acquired a development site in Picfair Village for 5.7M from Ketter Group and David Levy. The property is located at 1557 South Orange Grove Ave. and has a buildable square footage of 36,838, with a price per buildable square foot of 154. The site has plans for 30 units, with a price per unit of $190,000.
Picfair Village is a neighborhood in the Mid-City area of Los Angeles, California. The area has seen significant development in recent years, with new restaurants, shops, and residential buildings popping up. The neighborhood is known for its diverse population and historic architecture.
The buyer, Emry Hadad, is a real estate developer based in Los Angeles. He has worked on a number of projects throughout the city, including the development of a 20-unit apartment building in Hollywood. Victor Hadad is also a real estate developer based in Los Angeles.
The seller, Ketter Group, is a real estate investment firm based in Los Angeles. The company specializes in the acquisition, development, and management of commercial and residential properties. David Levy is a real estate broker based in Los Angeles.
The brokers on the deal were not disclosed.
This acquisition is indicative of the continued interest in development opportunities in Los Angeles. With the city’s population continuing to grow, there is a high demand for new housing. The Picfair Village neighborhood is particularly attractive due to its central location and historic charm. As development continues in the area, it is likely that property values will continue to rise.