Updated Oct 25, 2024
Eric Schmidt Acquires Bel-Air SFR From The Hilton Family For $61.5M
1060 Brooklawn Drive
$61,500,000
$4,097/SF
Building Size
15,011 SF
Asset Type
Single Family Residence
Closing
May 19, 2020
About this deal
AI
The Hilton family has sold their stunning single-family home in Bel-Air to Eric Schmidt. The transaction took place on May 19, 2021, and the property has been sold for an impressive price of $61,500,000. Spanning over 15,011 square feet, the property offers ample space for luxurious living. The price per square foot comes to $4,096, showcasing the premium value of this Bel-Air residence.
Summary of transaction details
- Property Type: Single-Family Home
- Transaction Amount: $61,500,000
- Market: Bel-Air
- Square Footage: 15,011
- Seller: The Hilton Family
- Buyer: Eric Schmidt
This significant transaction involved prominent individuals in the industry. The Hilton family, renowned for their contributions to the hotel industry, were the sellers in this deal. Eric Schmidt, a notable figure in the technology sector, acquired this prestigious property in Bel-Air. The sale of this single-family home marks a high-profile transaction in the real estate market.
Players
Los Angeles Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Deal FAQ
About $4.1K per square foot on a published $61.5M for 15,011 square feet (2020).
Visit Barron N. Hilton to view all their deals.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93