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Scott Gillen Sells Malibu Home 'The Edge' For $61M In The Case Development

Property Image
SOLD
$61,000,000
Aileen Comora
Sandro Dazzan
+ 2

California

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Single Family10,527 SF
Sold 07/03/2024
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Property Image
SOLD

Scott Gillen Sells Malibu Home 'The Edge' For $61M In The Case Development

24186 Case Court

See Similar Deals
Single Family10,527 SF
Sold 07/03/2024
Aileen Comora
Sandro Dazzan
+ 2
Contact now

Summary

CALIFORNIA
Asset Type:Single Family
Price Per Square Foot:$5,794
Total Square Footage:10,527 SF
Transaction Type:Sale

The property involved in the transaction is a Single Family home located at 24186 Case Court in Malibu. The property, known as The Edge, was sold by Scott Gillen for $61,000,000. Spanning 10,527 square feet, the home was sold at a price per square foot of $5,795, within the luxury development of The Case.

Summary of transaction details:

The sale of Scott Gillen's Malibu spec home, The Edge, at $61 million unveils a significant transaction within The Case development. Additionally, another property in the same community is currently in escrow with an asking price of $60 million, showcasing robust demand in Malibu's upscale real estate market.

Players

Sandro Dazzan
12 deals$216.4M volume
BROKER

Paul Lester
The Agency
4 deals$161.5M volume
BROKER

Aileen Comora
The Agency
4 deals$161.5M volume
BROKER

Cooper Mount
Carolwood Estates
7 deals$173.9M volume(310) 351-9002
BROKER

Daniel Stevenson
The Agency
2 deals$67.7M volume
BROKER

Details

SOLD
IMAGE: Aileen Comora, Cooper Mount, Scott Gillen, Daniel Stevenson, Paul Lester & Sandro Dazzan DATE: 07/03/2024 ADDRESS: 24186 Case Court MARKET: Malibu ASSET TYPE: Single Family SELLER: Scott Gillen BUYER'S REP: Cooper Mount (@CooperMount) - Carolwood Estates (@CarolwoodRealEstate) SELLER'S REP: Aileen Comora (@AsComora), Daniel Stevenson, Paul Lester & Sandro Dazzan (@SandroDazzan) - The Agency (@TheAgencyRE) SALE PRICE: $61,000,000 SF: 10,527 ~ PPSF: $5,795 NOTE: Scott Gillen's Malibu spec home, The Edge, has been sold for $61 million, marking a significant transaction within his luxury development, The Case. Another home in the community is currently in escrow with an asking price of $60 million, highlighting strong demand in Malibu's high-end real estate market.

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Deal Type
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Operating Expenses (Annual)
Net Operating Income (NOI)

$3,253,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$216,720.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$289,171.12
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