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1580 Sorrento Drive, Pacifi...

Jeremy Milken And Sarah Firestone Acquire Pacific Palisades SFR For $16.3M
SOLDSingle Family

Jeremy Milken And Sarah Firestone Acquire Pacific Palisades SFR For $16.3M

1580 Sorrento Drive, Pacific Palisades, CA, USA

$16,300,000

$1,566/SF

Building Size

10,409 SF

Asset Type

Single Family

Closing

May 18, 2021

AI

A single-family residence located at 1580 Sorrento Drive in Pacific Palisades has been sold for a total of $16,300,000. Spanning an area of 10,409 square feet, the property was sold at a rate of $1,565 per square foot.

Summary of transaction details

  • Property Type: SFR
  • Transaction Amount: $16,300,000
  • Address: 1580 Sorrento Drive, Pacific Palisades
  • Market: Pacific Palisades

The sale was facilitated by a team of brokers representing the involved parties. Jeremy Milken and Sarah Firestone acted as the buyers, while Chris Albrecht and Tina Trahan acted as the sellers. The transaction was overseen by several brokers, including Andreas Elsenhans from Westside Estate Agency, Zac Mostame from The Agency, Marcy Roth from Douglas Elliman, and Sandi Jacoby from Berkshire Hathaway HomeServices.

Players

Marcy Roth

Douglas Elliman

Broker

$58.5M

vol

6 deals

Broker

Pacific Palisades 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

0.97%

Cash-on-Cash

-0.28%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93