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Santa Monica, CA, USA

Steve & Jessica Sarowitz Acquire Santa Monica SFR From Estate Of Patricia Taylor For $9.1M
SOLDSingle Family Residence

Steve & Jessica Sarowitz Acquire Santa Monica SFR From Estate Of Patricia Taylor For $9.1M

Santa Monica, CA, USA

$9,100,000

$1,060/SF

Building Size

8,578 SF

Asset Type

Single Family Residence

Closing

Jul 28, 2021

AI

Located in Santa Monica, this single-family residence was recently sold. The property, which encompasses approximately 8,578 square feet, was purchased for a total of $9,100,000. The transaction took place on July 28, 2021. The sale price per square foot equates to $1,060. The buyer of this property is Steve and Jessica Sarowitz.

Summary of transaction details

  • Property Type: Single-Family Residence
  • Transaction Amount: $9,100,000
  • Market: Santa Monica
  • Size: 8,578 square feet

Representing the estate of Patricia Taylor, the sellers enlisted the services of the Altman Brothers Team from Douglas Elliman and Alphonso Lascano and Bjorn Farrugia from Hilton & Hyland as their brokers. The Altman Brothers Team, consisting of Josh Altman and Matt Altman, facilitated the transaction on behalf of the sellers. Their expertise and knowledge of the Santa Monica market were crucial in bringing this deal to fruition.

Players

Bjorn Farrugia

Hilton & Hyland

Broker

$73.7M

vol

6 deals

Broker

Steve Sarowitz

Buyer

$10.6M

vol

2 deals

Buyer

Santa Monica 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

1.74%

Cash-on-Cash

-0.50%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93