The Weeknd Sells Westwood Condo For $19M To Buyer's Rep Brian Lane - Madison Residential
$19,000,000
$2,375/SF
Building Size
8,000 SF
Asset Type
Condo
Closing
Aug 16, 2023
AI
The Weeknd has sold his Westwood penthouse for $19 million, marking a 3.8% drop from the initial asking price and $2 million less than his purchase price four years ago. Situated at 1200 Club View Drive, the 8,000-square-foot condo offers four bedrooms, six bathrooms, and a mirrored-wall gym. It is located near the Los Angeles Country Club, adding to its appeal.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $19,000,000
- Market: Westwood
The buyer of the penthouse is The Weeknd himself, while Brian Lane from Madison Residential represented him as a buyer's representative. On the other side of the deal, Angel Salvador from The Beverly Hills Estates served as the seller's representative. These individuals played crucial roles in facilitating the transaction, ensuring a successful sale.
Players
Market Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93