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3240 Iredell Lane

George Clooney Sells Studio City Estate To Kevin Dees For $14.5 Million
SOLDSingle Family

George Clooney Sells Studio City Estate To Kevin Dees For $14.5 Million

3240 Iredell Lane

$14,500,000

$1,971/SF

Building Size

7,354 SF

Asset Type

Single Family

Closing

Sep 27, 2024

AI

The property involved in the transaction is a single-family estate located at 3240 Iredell Lane in Studio City. The asset spans 3.16 acres and encompasses 7,354 square feet. It features six bedrooms, a sports court, and a pool. After undergoing a $1 million renovation in 2022 that added two villas, the property was sold for $14,500,000, reflecting a price per square foot of $1,972.

Summary of transaction details:

This transaction was represented by George Clooney’s broker representative, Kurt Rappaport, from Westside Estate Agency. Kevin Dees from Carolwood Estates acted as the broker for the transaction, facilitating the sale of the estate. The notable renovation and previous ownership by a famous musician add to the property's profile in the market.

Players

Kurt Rappaport

Westside Estate Agency

Broker

$2.1B

vol

58 deals

Broker

Studio City 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

1.09%

Cash-on-Cash

-0.31%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93