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1733 Ocean Ave, Santa Monic...

Goldman Sachs Acquires Santa Monica Property For $65M
SOLDMultiFamily

Goldman Sachs Acquires Santa Monica Property For $65M

1733 Ocean Ave, Santa Monica, CA, USA

$65,000,000

$1,900/SF

Building Size

34,195 SF

Asset Type

MultiFamily

Closing

Mar 7, 2019

AI

1733 Ocean Ave in Santa Monica has been sold for a staggering $65 million. The property consists of a total area of 34,195 square feet, resulting in a price per square foot of $1,900. The transaction took place on 03/08/2019, and the buyer was Goldman Sachs, while StarPoint Properties acted as the seller. Madison Partners, represented by Bob Safai, facilitated the deal.

Summary of transaction details

  • Property Type: Sale
  • Transaction Amount: $65M
  • Address: 1733 Ocean Ave, Santa Monica
  • Market: Santa Monica
  • Buyer: Goldman Sachs
  • Seller: StarPoint Properties
  • Brokers: Bob Safai - Madison Partners
  • Square Footage: 34,195
  • Price per Square Foot: $1,900

The sale of 1733 Ocean Ave was a significant transaction facilitated by Bob Safai of Madison Partners. Goldman Sachs acted as the buyer, acquiring the property from StarPoint Properties in Santa Monica.

Players

Bob Safai

Broker

$878.3M

vol

16 deals

Broker
Goldman Sachs
Goldman SachsBuyer
Goldman Sachs
Goldman SachsLender

Santa Monica MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.24%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93