As first reported by Ciaran McEvoy in the Los Angeles Business Journal, a Larchmont Village retail property has been sold for $23.5 million, one of the largest properties of its kind in the area.
Malibu-based Christina Development Corporation paid $1,372 per square foot for the 17,000-square-foot property, which stretches from 124 to 148 North Larchmont Boulevard, the village’s main commercial strip. The property is one of the largest of its kind in the area.
Current tenants of the Lipson Building include a toy shop and bookstore. The property also has 43 surface parking spaces. It was built in 1921 and has been owned since then by the LaBonte family. Julius LaBonte helped establish Larchmont Village, according to the Journal.
The neighborhood of Larchmont Village is south of Hollywood and east of the Wilshire Country Club.