Updated Dec 10, 2024
Alex Kassai Purchases Single Family Home In Los Gatos From John M. Sobrato For $5.75M
245 Glen Ridge Avenue
$5,750,000
$1,516/SF
Building Size
3,792 SF
Asset Type
Single Family
Closing
Nov 27, 2024
About this deal
AI
The property involved in this transaction is a single-family home located at 245 Glen Ridge Avenue in Los Gatos, California. The asset spans 3,792 square feet and sits on a 0.2-acre lot. The sale price was recorded at $5,750,000, equating to a price per square foot of $1,516.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $5,750,000
- Address: 245 Glen Ridge Avenue
- Market: Los Gatos
- Square Footage: 3,792
- Price per Square Foot: $1,516
- Buyer: Alex Kassai - Latham & Watkins
- Seller: John M. Sobrato - Sobrato Organization
- Broker: George Montanari - Compass
- Acres: 0.2
Notably, John M. Sobrato, a co-owner of the 49ers and chairman of the Sobrato Organization, sold this property to attorney Alex Kassai. The home includes features such as vaulted ceilings, a wine room, and a balcony overlooking an art studio and hot tub set among oak and redwood trees.
Players
Los Gatos Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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About $1.5K per square foot on a published $5.8M for 3,792 square feet (2024).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.76%
Cash-on-Cash
-0.79%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93