LA Office Building Sells at 52% Less Than 2018 Price (1)

A Los Angeles office building located near Century City and Beverly Hills sold for about 52% less than its price five years ago.

LA office building at 1640 Sepulveda Blvd.

Source: Harbor Associates

Harbor Associates and F&F Capital Group bought the five-story property at 1640 Sepulveda Blvd. for about $44.7 million, according to a statement Tuesday. The building last sold in 2018 for $92.5 million.

It’s the latest sale of an LA office building in a market that’s been pressured by the rise of remote work and financing challenges brought about by soaring interest rates. Recently, the Aon Center in downtown LA sold for $147.8 million, about 45% ...