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3355 Barnard Way, Santa Mon...

Scooter Braun Acquires Santa Monica Office For $26M With Drew Meyers & Kurt Rappaport - Westside Estates Agency
SOLDOffice

Scooter Braun Acquires Santa Monica Office For $26M With Drew Meyers & Kurt Rappaport - Westside Estates Agency

3355 Barnard Way, Santa Monica, California 90405, United States

$26,000,000

$1,083,333/SF

Building Size

24 SF

Asset Type

Office

Closing

Jan 3, 2023

AI

An office property located at 3355 Barnard Way in Santa Monica has been sold for $26,000,000. The property spans a total of 24,000 square feet, resulting in a price per square foot of $1,083. The transaction took place on March 1, 2023, and the buyer of the property is Scooter Braun.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $26,000,000
  • Address: 3355 Barnard Way, Santa Monica
  • Square Footage: 24,000
  • Price per Square Foot: $1,083

The deal was facilitated by Drew Meyers and Kurt Rappaport from Westside Estates Agency, who represented Scooter Braun in the transaction.

Players

Drew Meyers

Westside Estate Agency

Broker

$259.8M

vol

11 deals

Broker

Scooter Braun

Buyer

$91M

vol

4 deals

Buyer

Santa Monica Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.61%

Cash-on-Cash

-0.17%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93