Investor Pays $28 Million for Vacant Nate'n Al Deli in Beverly Hills

A private investor purchased 412-414 N. Beverly Drive in Beverly Hills for $28 million. That places the 5,800 square foot building at $4,828 per square foot. The building was vacant at the time of sale. It was built in 1922 and features 48 feet of frontage with street parking and building signage. This is an indication that well-located retail properties can still garner outstanding prices in today's market.