Strategic Legacy Investment Group, Inc. Commences Demolition For Barton Estates @ Central Park, A Small Lot Subdivision Project In Hollywood
HOLLYWOOD, Calif., June 5, 2017 /PRNewswire/ -- Strategic Legacy Investment Group, Inc. (SLIG), a Los Angeles-based investment firm, announces that it has commenced demolition of an existing property for the future construction of the Barton Estates @ Central Park. SLIG is celebrating the occasion with a ribbon-cutting ceremony on the property on Sunday, June 11th from 1:00 - 2:30 PM.
Located at 5447 & 5455 Barton Avenue, at the intersection of N. St. Andrews Place and Barton Ave., the Barton Estates @ Central Park development is the result of a parcel subdivision and it will consist of eight single-family homes, which will be offered for sale as of June 2018. SLIG's subsidiary, Strategic Legacy Realty will be handling the marketing and sale of the eight single-family homes. The homes will be priced at $1.2 Million each.
The site measures 12,616 square feet and was occupied by two single family homes prior to the demolition. The new project was designed by architect Jay Vanos and will be built by Burrell Construction, led by George Robles, along with the SLIG superintendent on the project, Wilberth Maradiaga. Barton Estates @ Central Park will contain a mix of two and three-bedroom homes which will have rooftop decks, front and backyard areas, a private entry gate, high-end finishes, smart home technology and attached two-car parking.
The property is within blocks of all that Hollywood has to offer, including the ArcLight Theatre, the W Hotel and numerous restaurants and nightclubs. Also within a few blocks of Barton Estates @ Central Park is the sight of the proposed Hollywood Central Park Project, a 38-acre public "Cap Park" that will be built on top of the 101 Freeway.
SLIG is active in the Hollywood market, as Barton Estates @ Central Park is part of a portfolio of six assets totaling $65 Million in value. Four of these are currently in development within a one-mile vicinity of this project. The total SLIG portfolio is now valued at $206 Million.
Commenting about developing the Barton Estates @ Central Park, Abraham Mehrian, President and Co-Founder of SLIG, said, "Growing up in Los Angeles, I spent much time in Hollywood so when I reflect back on what Hollywood was while witnessing the dramatic change that is occurring in Hollywood now, it gives me a great feeling of fulfillment to contribute to that change. It was that desire to be part of Hollywood's evolution that led us to invest here, especially with the ever-growing job market."
Added Michael Sabet, Vice President of SLIG, "Our original sales estimations for Barton Estates @ Central Park were on average $867,000 per home. We are happy to say that current market conditions tell us that these same units can be sold today at an average of $1,200,000 per home, giving our investors even greater returns than originally anticipated."
To learn more about Strategic Legacy Investment Group, visit www.slinvestmentgroup.com
CONTACT: David Ara, [email protected]
SOURCE Strategic Legacy Investment Group, Inc.
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