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
Santa Monica MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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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