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Malibu Drive

RZA Acquires $9.77M Malibu SFR With Michael Zelener & Christopher Cortazzo As Brokers
SOLDSingle Family Residence

RZA Acquires $9.77M Malibu SFR With Michael Zelener & Christopher Cortazzo As Brokers

Malibu Drive

$9,775,000

$888/SF

Building Size

11,001 SF

Asset Type

Single Family Residence

Closing

Aug 7, 2023

AI

Hip-hop icon RZA has made a $9.77 million real estate move, purchasing a lavish Malibu estate with an expansive mansion, infinity-edge pool, and sweeping coastal views. This stunning property is located on 5.03 acres of land in the Malibu market. The estate spans 11,001 square feet and boasts a price per square foot of $889. With its luxurious amenities and breathtaking views, this property is a valuable addition to RZA's growing real estate portfolio.

Summary of transaction details:

  • Property Type: Single-Family Residential (SFR)
  • Transaction Amount: $9,775,000
  • Acreage: 5.03 acres
  • Square Feet: 11,001
  • Price Per Square Foot: $889
  • Market: Malibu

RZA's purchase was facilitated by his representative, Michael Zelener of Pacific Coast Realty. On the seller's side, Christopher Cortazzo of Compass provided expert representation. This acquisition adds to RZA's existing property collection, which includes a home in New Jersey and another property in Bell Canyon, Los Angeles. With his keen eye for valuable real estate assets, RZA continues to make strategic investments in prime locations.

Players

Chris Cortazzo

Compass

Broker

$650.4M

vol

33 deals

Broker

Long Beach 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

1.62%

Cash-on-Cash

-0.46%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93