1741 N. Cherokee Avenue
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Sold for $380,000 over the list price, this Hollywood office transaction highlights how disciplined execution and collaboration with an experienced commercial partner can still drive competitive outcomes in today’s market.
Background
1741 N. Cherokee Avenue is a newer-construction office property completed in 2012 and located in the heart of Hollywood. The building sits on an approximately 18,000 square foot lot and was designed by Gruen Associates, with a layout that supported a range of owner-user and institutional uses. The interior configuration included executive offices, a large training or assembly space with ceiling heights ranging from approximately 14 to 18 feet, multiple restrooms, and flexible support areas.
In addition to the interior space, the property featured roughly 7,000 square feet of landscaped outdoor green space, providing a campus-style environment that was well suited for organizations prioritizing outdoor programming, gathering areas, and flexible use. The property had been owner-occupied by a well-established nonprofit organization for several decades and had been consistently maintained as their operational needs evolved.
As the organization began evaluating a sale, Max was engaged alongside JLL to guide the process. Given the unique nature of the asset and its potential buyer pool, the approach focused on exposing the property across office, residential, and investor channels while maintaining a disciplined and orderly marketing process.
Result
Early interest confirmed that demand existed, but the process was structured to prioritize qualified buyers and maintain momentum. Property tours were coordinated with interested parties, and access was managed to create clarity around timing and expectations. As offers were received, a best-and-final process was conducted to allow the market to fully express pricing.
Throughout escrow, Max worked closely with the nonprofit’s board to address approval requirements, communication protocols, and timing considerations. Coordination with Nicole Mihalka of JLL, who brought deep experience in Hollywood office transactions, helped keep all parties aligned through closing.
The property ultimately sold for $5,375,000, representing $380,000 over the list price. The outcome reflected both the quality of the asset and the effectiveness of a controlled, competitive process, even within a commercial market that has seen limited over-asking transactions in recent years.
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