Stan Kroenke Acquires Beverly Hills Penthouse From Louis Welch For $23.8M
SOLD
$23,800,000
California
See Similar DealsOther4,900 SF
Sold 10/11/2021
SOLD
Stan Kroenke Acquires Beverly Hills Penthouse From Louis Welch For $23.8M
Beverly Hills, CA, USA
See Similar DealsOther4,900 SF
Sold 10/11/2021
Summary
CALIFORNIA
Asset Type:Other
Price Per Square Foot:$4,857
Total Square Footage:4,900 SF
Transaction Type:Sale
Stan Kroenke has recently acquired a penthouse in Beverly Hills through a sale transaction. The purchase was made on October 11, 2021, and the property features a total area of 4,900 square feet. The sale price for this luxurious penthouse was $23,800,000, resulting in a price per square foot of $4,857. The asset is owned by Stan Kroenke, while the seller of the property was Louis Welch, who represents LA Fitness.
Summary of transaction details:
- Property Type: Penthouse
- Transaction Amount: $23,800,000
- Market: Beverly Hills
- Buyer: Rams - Stan Kroenke
- Seller: LA Fitness - Louis Welch
This notable sale transaction showcases Stan Kroenke's acquisition of a lavish penthouse in Beverly Hills. The transaction involved a purchase price of $23,800,000, making it a significant investment. Louis Welch, representing LA Fitness, served as the seller in this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,269,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$84,556.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$112,824.14
Annual Debt Service$1,353,889.71
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