A Law Firm Paid $18.7 Million to Buy Across From Cedars-Sinai. Why I Like It.
Law firms are buying buildings across Los Angeles. This $667-per-square-foot sale brings another legal buyer into the market.
At a glance
confirmed, closed 9/18/2026
listed 5/15/2026
3.97% below ask
28,080 gross SF
about 29% of suite space empty
annual, per marketing
What matters
- The price.The building sold for $18,726,000 on September 18. That's $667 a foot of building and $770 a foot of land. The asking price was $19.5 million. There was no ULA tax because the building is in West Hollywood, not the City of Los Angeles. Inside LA city limits, that tax would have cost about $1.03 million on this sale. Doctors pay about $5 to $7 a foot per month. Two tenants pay more than half the rent: Synergy about 30% and Dr. Robert Klapper about 25%. I don't know if the Law firm is taking the remaining space.
- Law firms belong on the buyer list.A law firm bought this and that caught my attention because legal businesses, including personal injury firms, are committing serious money to local property all over Los Angeles County. Law Brothers bought 8350 Wilshire Blvd next to its headquarters for a reported $26.4 million. DTLA Law Group bought the former Lucky Brand headquarters in the Arts District for a reported $20 million. Its new headquarters has about 52,000 square feet, more than double its previous space.
- The building across from Cedars. It's 28,080 square feet on four stories, built in 1980, on 24,330 square feet of land. It has two elevators and 115 parking spaces which is excellent for being next to Cedars. The marketing listed it as 69% occupied, and the listing broker confirmed that. Three suites, about 7,600 square feet, were empty which can get leased out easily or maybe the Law firm moves in. The location is excellent. For medical tenants, being across from Cedars-Sinai and having this much parking is great
- The seller chose the buyer most likely to close.According to Seth Grossman of Conroy Commercial, the building received multiple offers, mostly from buyers who wanted to use the property themselves. There was a higher offer, but it came with more complicated conditions. The seller, Fulvest Corporation, chose the buyer with the clearest path to closing. In this market a larger number comes with more uncertainty. I would also go with the Law firm.
Deal stats
What an Operator Sees
The team that got it done
Seller side
Seth Grossman, Conroy Commercial, 718.578.8772, seth@conroycommercial.com
Lauren Aboulafia, Conroy Commercial, 310.429.7656, lauren.aboulafia@conroycommercial.com
Corey Spound, Tamarack Real Estate Services, 310.625.6825, corey@tamarackres.com
Buyer side
Eric Sackler, Coldwell Banker Commercial, 310.820.6651, ericsackler@gmail.com
I like seeing successful businesses buy real estate.
Law firms and personal injury firms are among the buyer groups I’m watching closely. My read is that success in the legal industry is turning into property ownership. We can see the purchases throughout the city. This is great for real estate owners in a difficult market. These growing firms need more offices and may want control over where they operate for the next ten or twenty years.
Seth said much of the money he is seeing comes from private buyers, including business owners buying their own space, family offices and other private investors. Most institutions are out and private investors are the ones buying Los Angeles.
The demand also shows up in leasing. The Sentinel Firm, which handles employment and personal injury cases, signed a 20,459-square-foot lease at 707 Wilshire Blvd.
A business owner will look at the same building differently from an investor.
An investor sees empty spaces that need to be leased. A growing law firm may see room for more employees. Owning gives the firm control over its space and room to grow without having to negotiate another lease or move again.
At 8737 Beverly, I want to know what the new buyer plans to do with the building. Will the firm occupy space, keep it as an investment, or do some of both? That answer affects how I would judge the price, the vacancy and the existing leases.
Seth said the buyer was motivated and had a credible plan for the building. He also saw long-term value in the location and a possible fit with the existing medical tenants.
Seth said medical buyers want to be near major hospitals like Cedars-Sinai. They also want buildings where much of the cost and work of creating medical offices has already been done.
That makes sense to me. Here, you already have medical tenants, medical suites and 115 parking spaces across from Cedars. The big win is the location. Being across from Cedars means there will be a lot of medical demand.
I think this is an interesting acquisition. The buyer could keep operating it as a medical building or potentially use part of it for the law firm. I personally would want to fill the entire building with medical professionals. I like the location and the parking for that use.
The reported $11.24 million loan leaves about $7.5 million that the owners put up. I want to know the loan terms and how much additional money the buyer plans to put into the building.
Seth’s view is that buyers are being selective. They are looking closely at the purchase price, financing and how much space is occupied. But good buildings are still selling when the seller is realistic and the buyer has a clear plan.
That is how I look at this deal. The location, parking and existing medical use give the buyer something great to work with.
Successful legal businesses putting money into local buildings is good for LA real estate. I am following this to see how many more acquisitions we see from business owners and law firms. If I were selling a building that could work for one of these firms, I would want them on the buyer list.
Know one other LA owner who’d want to see this deal? Forward this.
Rent roll and photo: Conroy Commercial and Tamarack Real Estate Services.
Property and transaction data: CoStar Research.
Write to David Safai at David@AtlasBrief.La
Appeared in the Sept. 29, 2026 edition of The Tape.