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12985 Galewood Street

David Burd Acquires Former Kenny G Studio City Estate For $6.3M
SOLDSingle Family

David Burd Acquires Former Kenny G Studio City Estate For $6.3M

12985 Galewood Street

$6,300,000

$1,113/SF

Building Size

5,660 SF

Asset Type

Single Family

Closing

Dec 15, 2023

AI

The property at 12985 Galewood Street in Studio City, spanning 0.51 acres, was recently sold for $6,300,000. The single-family home boasts 5,660 square feet of living space, equating to a price per square foot of $1,113. The serene estate includes modern amenities, 5 bedrooms, lush outdoor areas, a lap pool, and a guest apartment, perched on a high knoll within a secluded neighborhood.

Summary of transaction details:

David Burd, also known as Lil Dicky, acquired the former estate of Kenny G in Studio City. Represented by Jacqueline Cahen of Compass, Burd purchased the property for $6.3 million, a serene haven featuring 5 bedrooms, modern amenities, and ample outdoor spaces inclusive of a lap pool and a guest apartment situated atop a high knoll within a tranquil, secluded neighborhood.

Players

H. Blair Chang

The Agency

Broker

$186.7M

vol

7 deals

Broker

Studio City Single Family Market Snapshot

Boundary boundary · Single Family · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.52%

Cash-on-Cash

-0.72%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93