Showing the weakness in the multi-family housing market in Los Angeles, last month Winstar Properties bought the 79-unit MetWest on Sunset apartment building for $27,500,000 per The Real Deal.

The property was purchased by the sellers for $38 million in April 2019 reflecting a 27.6% decline in value in the 4 1/3 year holding period.

The seller for the building is Cypress Real Estate Advisors.

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