Newmark, as exclusive advisor, is pleased to present the opportunity to acquire the 100% fee-simple interest in 1640 5th St. (“the Property”), located in Santa Monica, California.

A truly generational asset, 1640 5th St. is an exceedingly rare opportunity to acquire a world class multi-family development site in an irreplaceable coastal location with in-place income. Additionally, re-development of 1640 5th St. is achieved through ministerial and non-discretionary application process.

The Property consists of 0.52 acres in the prime Downtown Santa Monica submarket, one of Southern California’s strongest and most desirable multifamily markets. Current improvements consists of several office leases with near-term expirations and/or landlord termination options that offer a developer maximum flexibility relative to timing of construction and delivery along with current income to help partially offset predevelopment costs.

1640 5th St. benefits greatly from being just blocks from the ocean and it’s proximity to some of Los Angeles’ most exclusive residential neighborhoods, as well as immediate transportation access via the Santa Monica (10) Freeway, major surface thoroughfares, and the MTA Expo Line light rail station at 4th & Colorado.