Investor plans 98-unit apartment in NoHo

Dariush Hosseini bought the 0.7-acre site for $6.5M

TRD LOS ANGELES /
Apr.April 20, 2017 09:45 AM

Investor Dariush Hosseini wants to build a 98-unit apartment complex in North Hollywood, according to planning documents.

Hosseini acquired the 0.7-acre parcel of land, at 5513 Case Avenue, through an LLC for $6.5 million last December, property records show. The seller was the Fashion District-based real estate firm Zachary Brothers.

Of the 98 units, 21 are contingent on the city approving a density bonus request.

Hosseini is just the latest developer to target North Hollywood for residential development.

Investor Leon Kaplan recently filed plans to build a 33-unit condominium project on the corner of Cartwright Avenue and Chandler Bikeway, city documents show. An entity linked to Ranna Purohit, who owns the Colony Inn on Vineland Avenue, also filed plans, for a 35-unit complex at 4882 North Lankershim Boulevard.
Hosseini is not new to the market.
He recently acquired an industrial building in Orange County for about $6.8 million, the San Diego Business Journal reported. He also reportedly owns a single-story mixed-use building in Canoga Park.


Related Articles

arrow_forward_ios
First District Supervisor Hilda Solis (Credit: Rebecca Sapp/Getty Images)

LA County select reopening target date for restaurants and retailers

LA County select reopening target date for restaurants and retailers
Eric Garcetti orders a moratorium on LA commercial evictions (Photo credit: iStock photo)

Garcetti orders a moratorium on commercial evictions in LA

Garcetti orders a moratorium on commercial evictions in LA
Developer seeks permission to build hotel at Lankershim Boulevard and Gilmore Street (Credit: Google Maps and iStock)

LA’s hotel boom continues with proposed 89-key development in North Hollywood

LA’s hotel boom continues with proposed 89-key development in North Hollywood
LA promo

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!
From left: Howard Schwimmer and Michael S. Frankel, with 1601 W. Mission Boulevard and 2757 E. Del Amo Boulevard (Credit: Google Maps)

Rexford Industrial adds to LA portfolio with $100M in acquisitions

Rexford Industrial adds to LA portfolio with $100M in acquisitions
Andrew McDonald and At Mateo in the Arts District

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more
3339 Exposition Blvd. and Asher Luzzatto

Luzzatto Co. assembling creative office hub in West Adams

Luzzatto Co. assembling creative office hub in West Adams
Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

Faring makes $30M assemblage play on WeHo/LA border
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...