Updated Oct 29, 2024
Alec Litowitz Of Magnetar Capital Acquires Malibu SFR From Flea For $20M
32504 Pacific Coast Highway, Malibu, CA, USA
$20,000,000
$7,407/SF
Building Size
2,700 SF
Asset Type
Single Family Residence
Closing
Dec 29, 2020
About this deal
AI
Alec Litowitz, the founder of Magnetar Capital, has purchased a stunning single-family residence (SFR) in Malibu, California. The property, spanning approximately 2,700 square feet and situated on 2.1 acres of land, was sold by Michael Balzary, also known as Flea. The sale took place on December 30, 2020, for a price of $20,000,000.
Summary of transaction details:
- Property Type: Single-Family Residence
- Transaction Amount: $20,000,000
- Market: Malibu
Alec Litowitz, representing Magnetar Capital, acted as the buyer in this transaction, while Flea served as the seller. This acquisition marks an exciting venture for Litowitz and showcases the appeal of Malibu's real estate market.
On the Map
$20,000,000
$7,407/SF
Single Family Residence
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Malibu 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
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93