Updated Dec 21, 2023
Crown Equity & Ascendent Capital Partners Sell Retail Property On North Rodeo Drive In Beverly Hills For $122M
457 N Rodeo Dr, Beverly Hills, CA 90210, Estados Unidos
$122,000,000
$10,517/SF
Building Size
11,600 SF
Asset Type
Retail
Closing
Nov 11, 2020
About this deal
AI
The property at 457-459 North Rodeo Drive in Beverly Hills has been sold in a closed transaction. The retail asset was acquired for $122,000,000 with a total area of 11,600 square feet. The price per square foot was $10,500.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $122,000,000
- Address: 457-459 North Rodeo Drive, Beverly Hills
- Square Footage: 11,600
- Price per Square Foot: $10,500
The seller of the property is Crown Equity, represented by Michael Shabani, and Ascendent Capital Partners, represented by Russell Gimelstob. The brokerage services for the deal were provided by Jay Luchs from Newmark.
Players
Beverly Hills Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93