New Owner of La Fayette Park Apartments Eyes Workforce Housing
Colliers arranged the $43,440,000 sale of a three-story, 120-unit apartment community in the historic Los Angeles neighborhood of La Fayette Park. Located on a wide, tree-lined street at 349 S. La Fayette Park Pl., the asset generated multiple competing offers, selling for approximately $362,000 per unit and $477 per square foot.
Senior EVP Kitty Wallace and associate VP Kalli Knight represented both the buyer and seller. The seller had below-market assumable agency debt; however, the buyer paid cash to preserve the right to create and maintain affordable housing.