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1 Pelican Crest Drive, Newp...

Luxury Single Family Home In Newport Coast Sold For $30.6M With Buyer's Rep Rob Smith & Michael Franco
SOLDSingle Family Residence

Luxury Single Family Home In Newport Coast Sold For $30.6M With Buyer's Rep Rob Smith & Michael Franco

1 Pelican Crest Drive, Newport Coast, California 92657, United States

$30,600,000

$2,353,846/SF

Building Size

13 SF

Asset Type

Single Family Residence

Closing

Apr 1, 2023

AI

Located in Newport Coast, the single family home at 1 Pelican Crest Drive has recently been sold. The transaction took place on 01/04/2023. The property spans over 13,437 square feet and is situated on the market for $30,600,000. This equates to a price per square foot of $2,277. The sale was facilitated by Compass, with buyer representatives Rob Smith & Michael Franco, while the seller was represented by Paul Daftarian & Michael Balliet of Luxe Real Estate.

Summary of transaction details:

  • Property Type: Single Family
  • Transaction Amount: $30,600,000
  • Date: 01/04/2023
  • Address: 1 Pelican Crest Drive
  • Market: Newport Coast

The buyer's representatives in this deal were Rob Smith & Michael Franco from Compass, while the seller's representatives were Paul Daftarian & Michael Balliet from Luxe Real Estate. This substantial transaction signifies the successful collaboration between the involved parties in achieving the sale of this prestigious property.

Players

Paul Daftarian

Broker

$238.6M

vol

9 deals

Broker

Newport Coast Single Family Residence Market Snapshot

Boundary boundary · Single Family Residence · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.52%

Cash-on-Cash

-0.15%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93