Benjamin & Hedy Nazarian Acquire Bel Air SFR From Jean Kasem For $34M
SOLD
$34,000,000
California
See Similar DealsSingle Family Residence12,000 SF
Sold 04/08/2021
SOLD
Benjamin & Hedy Nazarian Acquire Bel Air SFR From Jean Kasem For $34M
Single Family Residence12,000 SF
Sold 04/08/2021
Summary
Asset Type:Single Family Residence
Price Per Square Foot:$2,833
Total Square Footage:12,000 SF
Transaction Type:Sale
A single-family residence (SFR) in Bel Air has been sold for a staggering price of $34,000,000. The property is a spacious 12,000 square feet, equating to a price per square foot of $2,833. The sale took place on April 8, 2021 and involved Benjamin Nazarian and Hedy Nazarian as the buyers, while Jean Kasem acted as the seller.
Summary of transaction details
- Property Type: SFR
- Transaction Amount: $34,000,000
- Square Footage: 12,000 sqft
- Price per Square Foot: $2,833
- Market: Bel Air
The sale of this impressive property was finalised by Benjamin Nazarian and Hedy Nazarian, who acquired it from Jean Kasem. This transaction highlights the significant involvement of these individuals in the Bel Air market, and their successful negotiations demonstrate their expertise in the real estate industry.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,813,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$120,794.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$161,177.35
Annual Debt Service$1,934,128.15
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