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David Offer Of Berkshire Hathaway HomeServices Represents Buyer In Santa Monica Sale For $19.15M

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SOLD
$19,150,000

California

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Single Family31,576 SF
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SOLD

David Offer Of Berkshire Hathaway HomeServices Represents Buyer In Santa Monica Sale For $19.15M

512 Georgina Avenue

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Single Family31,576 SF
Sold
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Summary

CALIFORNIA
Asset Type:Single Family
Price Per Square Foot:$606
Total Square Footage:31576 SF
Transaction Type:Sale

A single-family property located at 512 & 518 Georgina Avenue in Santa Monica has been sold for $19,150,000. This sale represents the priciest home sale in the city for the year and encompasses an area of 0.77 acres with a total square footage of 15,788. The price per square foot for the property stands at $1,213.

Summary of transaction details:

The transaction was facilitated by David Offer, representing the buyer, and Kurt Rappaport, who represented the sellers. The buyer financed the acquisition through a loan issued by J.P. Morgan and processed the purchase as Bridgeview Investors LLC.

Players

Kurt Rappaport
55 deals$2B volume
BROKER

David Offer
Berkshire Hathaway HomeServices
8 deals$87.9M volume
BROKER

J.P. Morgan Chase
LENDER

Details

SOLD
IMAGE: David Offer, Bennet Van de Bunt & Kurt Rappaport DATE: 05/30/2024 ADDRESS: 512 & 518 Georgina Avenue MARKET: Santa Monica ASSET TYPE: Single Family ~ ACRES: 0.77 SELLER: Bennet Van de Bunt & Laura Livingston Fox BUYER'S REP: David Offer (@DavidOfferfinehomes) - Berkshire Hathaway HomeServices California Properties (@BHHSCalifornia) SELLER'S REP: Kurt Rappaport (@Kurt_Rappaport) - Westside Estate Agency (@WEAHomes) LENDER: J.P. Morgan (@JPMorgan) SALE PRICE: $19,150,000 SF: 15,788 ~ PPSF: $1,213 NOTE: A Santa Monica mansion sold for $19.2 million, marking the city's priciest home sale this year. The buyer funded the purchase with a $9.5 million loan from JPMorgan Chase and acquired the property through Bridgeview Investors LLC. The sellers were Bennet Van de Bunt and Laura Livingston Fox. David Offer of Berkshire Hathaway HomeServices California Properties represented the buyer, while Kurt Rappaport of Westside Estate Agency represented the seller.

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

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$68,035.92
Cash-on-Cash Return-1.27%
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Annual Debt Service$1,089,369.24