Updated Sep 9, 2024
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
About this deal
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
Pacific Palisades Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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Deal FAQ
About $1.6K per square foot on a published $16.3M for 10,409 square feet (2021).
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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