REBusinessOnline

MARCUS & MILLICHAP HANDLES SALE OF UNFINISHED REO CONDO PROPERTY

SHERMAN OAKS, CALIF. — Marcus & Millichap has brokered the more than $2.5 million sale of a bank-owned condominium site located at 13712 Valleyheart Drive in Sherman Oaks. Estimated to be 75 to 80 percent complete, construction was halted by the original developer approximately 10 months ago, leaving an estimated $500,000 of work remaining for the new buyer. Marcus & Millichap’s Ronald Harris and Paul Darrow represented the seller, a financial institution, in the transaction.

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