Updated Dec 4, 2024
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
About this deal
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:
- Property Type: Single Family
- Transaction Amount: $6,300,000
- Address: 12985 Galewood Street
- Market: Studio City
- Buyer: David Burd aka Lil Dicky
- Buyer's Representative: Jacqueline Cahen - Compass
- Seller's Representative: H. Blair Chang - The Agency
- SF: 5,660
- PPSF: $1,113
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
Studio City Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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About $1.1K per square foot on a published $6.3M for 5,660 square feet (2023).
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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