520 Broadway Sells For Over $1000 PSF

Class A office values rose significantly again in 2017. Firms like Douglas Emmet paid over the $1000 per square foot price for prime class A office buildings. Cap Rates are now below 5% for most  office classes on the Westside. Recently, Artisan Realty Advisors paid over $1000 psf. for 520 Broadway in Santa Monica. This price is significantly greater than the 1984 value of $182 psf. and the 1993 recession low of $71 psf paid by Kennedy Wilson. Several buyers have significantly upgraded this 1982 Herb Nadel designed office building over the years.