A subsidiary of Alexander & Baldwin Inc. has transferred the ownership of one of its vacant oceanfront Kahala Avenue properties it purchased in 2013 from Japanese businessman Genshiro Kawamoto to itself, a company spokeswoman confirmed to PBN.
A&B Properties Inc. said it is exploring potential residential construction on the vacant parcel.
The Honolulu-based real estate arm of A&B acquired about 30 of Kawamoto’s Kahala properties for close to $100 million, including the little more than one-acre vacant parcel at 4607 Kahala Ave.
In May, A&B Properties, which formed 4607 Kahala LLC, transferred the property over to itself for $17.7 million, according to public records.
The property had been on the market for $18.5 million, according to a listing from Honolulu-based List Sotheby’s International Realty.
Kawamoto purchased the property for $11 million in 2006 from Alteka Co. Ltd.
The property has a total assessed value of $8.3 million, according to tax records.
In 2009, Kawamoto was issued a building permit by the City and County of Honolulu’s Department of Planning and Permitting to demolish the one-story home at the rear of the property.
No building permits have been filed since that time.
Pacific Business News
<h4 style=”text-align: center;”><strong><a href=”http://realestate.hawaiiamericana.com/i/6351/Luxury_Oahu_Estates_2M_3M”>Luxury_Oahu_Estates_$2M -_$3M</a><br>
<a href=”https://shopoahuproperties.idxbroker.com/i/Luxury_Oahu_Estates_3M_4M”>Luxury_Oahu_Estates_$3M -_$4M</a><br>
<a href=”https://shopoahuproperties.idxbroker.com/i/Luxury_Oahu_Estates_4M_5M”>Luxury_Oahu_Estates_$4M -_$5M</a><br>
<a href=”https://shopoahuproperties.idxbroker.com/i/Luxury_Oahu_Estates_5M_6M”>Luxury_Oahu_Estates_$5M -_$6M</a><br>
<a href=”https://shopoahuproperties.idxbroker.com/i/Luxury_Oahu_Estates_6M_8M”>Luxury_Oahu_Estates_$6M -_$8M</a><br>
<a href=”https://shopoahuproperties.idxbroker.com/i/Luxury_Oahu_Estates_8M_10M”>Luxury_Oahu_Estates_$8M – 10M</a><br>
Leave a Reply
You must be logged in to post a comment.