Santa Monica, CA – A private seller has sold its Santa Monica unentitled redevelopment property at 1626 Lincoln Boulevard for $15,750,000 to the developer of the former Fred Segal building, 500 Broadway.
“At a premium of $580 per square foot, that’s the highest price to date for land on Lincoln boulevard,” says T.C. Macker, CCIM. The developer plans to convert their newly purchased 28,070 square foot lot into off-site affordable housing.
T.C. Macker, CCIM of Coldwell Banker Commercial WESTMAC represented the Buyer.