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Eric Schmidt Acquires Bel-Air SFR From The Hilton Family For $61.5M

Property Image
SOLD
$61,500,000
Barron N. Hilton
Rick Hilton
ES

California

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Single Family Residence15,011 SF
Sold
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SOLD

Eric Schmidt Acquires Bel-Air SFR From The Hilton Family For $61.5M

1060 Brooklawn Drive

See Similar Deals
Single Family Residence15,011 SF
Sold
Barron N. Hilton
Rick Hilton
ES
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Single Family Residence
Price Per Square Foot:$4097
Total Square Footage:15011 SF
Transaction Type:Sale

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

Rick Hilton
Hilton & Hyland
Rick Hilton
7 deals$454.9M volume
BROKER
ES
Google
Eric Schmidt
8 deals$265.6M volume
BUYER

Details

SOLD
IMAGE: Barron N. Hilton, Rick Hilton, Paris Hilton, Eric Schmidt DATE: 05/19/2021 MARKET: Bel-Air ASSET TYPE: SFR SELLER: The Hilton Family BUYER: Eric Schmidt SALE PRICE: $61,500,000 SF: 15,011 ~ PPSF: $4,096

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Deal Type
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Operating Expenses (Annual)
Net Operating Income (NOI)

$3,280,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$218,496.50
Cash-on-Cash Return-1.27%
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