Updated Oct 29, 2024
Peter Morton Sells Carbon Beach Single-Family Home For $110M To Michael & Iris Smith, Reps From Sotheby's Intl Realty & Hilton & Hyland
22314 Pacific Coast Highway, Malibu, CA, USA
$110,000,000
$13,750/SF
Building Size
8,000 SF
Asset Type
Single Family Residence
Closing
Apr 19, 2018
About this deal
AI
The property involved in the closed transaction is a Single-Family home located at 22314 Pacific Coast Highway in Los Angeles. Situated in the Carbon Beach market, the property spans 8,000 square feet and was sold for a price of $110,000,000, resulting in a price per square foot of $13,750.
Summary of transaction details
- Property Type: Single-Family
- Transaction Amount: $110,000,000
- Address: 22314 Pacific Coast Highway, Los Angeles
- Market: Carbon Beach
- Square Footage: 8,000
- Price per Square Foot: $13,750
The seller of the property is Peter Morton, the co-founder of Hard Rock Cafe. The buyer is Michael Smith, a natural gas mogul. Representing the buyer is Barry Peele from Sotheby's International Realty, while the seller is represented by Branden & Rayni Williams from Hilton & Hyland.
NOTE: Peter Morton is the co-founder of Hard Rock Cafe, and Michael Smith is a natural gas mogul.
Players
Malibu Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
Loading comparables…
Deal FAQ
About $13.8K per square foot on a published $110M for 8,000 square feet (2018).
Visit Branden Williams to view all their deals.
Browse California single family residence sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93