726-740 Hartford Ave, Los Angeles, CA 90017
Maher Commercial Realty is proud to announce the sale of a high-density multifamily development site in Los Angeles’ Westlake neighborhood for $6,500,000, $347/SF, the highest price per square foot paid for multifamily development land east of Beverly Hills since 2023.
This deal was years in the making. Starting in 2019, our team worked alongside our client to assemble the site parcel by parcel, including sourcing the third parcel off-market through direct relationships with the neighboring owner.
The original plan was market-rate housing for young professionals. But post-COVID shifts in the neighborhood and development economics called for a new direction. We pivoted, sourcing a buyer focused on affordable housing and Measure ULA funding.
The result: 100 units of affordable housing for low- and moderate-income Angelenos.
🤝 Huge congrats to Jeremy Shore and Oron Maher, who represented the Seller and saw this vision through from acquisition strategy to a community-focused outcome.
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