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1200 Club View Drive

The Weeknd Sells Westwood Condo For $19M To Buyer's Rep Brian Lane - Madison Residential
SOLDCondo

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

Brian Lane

Madison Residential Realty

Broker

$105.4M

vol

8 deals

Broker

The Weeknd

Buyer

$163.2M

vol

4 deals

Buyer

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