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Malibu, CA, USA

Carter Reum & Paris Hilton Acquire Malibu SFR From Estate Of Tom Pollock For $8.4M
SOLDSingle Family

Carter Reum & Paris Hilton Acquire Malibu SFR From Estate Of Tom Pollock For $8.4M

Malibu, CA, USA

$8,400,000

$2,830/SF

Building Size

2,968 SF

Asset Type

Single Family

Closing

Aug 20, 2021

AI

The property involved in this transaction is a Single Family Residence (SFR) located in Malibu, California. The sale took place on August 20, 2021, and the buyers are Carter Reum and Paris Hilton. The sellers are the Estate of Tom Pollock. The property was listed by brokers Chris Cortazzo and Ali Gagerman from Compass. The sale price for the property is $8,400,000, and it has a total square footage of 2,968, resulting in a price per square foot of $2,830.

Summary of transaction details

  • Property Type: Single Family Residence (SFR)
  • Transaction Amount: $8,400,000
  • Market: Malibu
  • Buyers: Carter Reum & Paris Hilton
  • Sellers: Estate of Tom Pollock
  • Brokers: Chris Cortazzo & Ali Gagerman - Compass
  • Square Footage: 2,968
  • Price per Square Foot: $2,830

Carter Reum and Paris Hilton purchased this property from the Estate of Tom Pollock. The transaction was facilitated by brokers Chris Cortazzo and Ali Gagerman from Compass. The property is a Single Family Residence (SFR) situated in the sought-after market of Malibu. With a total square footage of 2,968, the property offers ample space for the buyers' needs. The sale price of $8,400,000 reflects the value of the property in this desirable location.

Players

Chris Cortazzo

Compass

Broker

$650.4M

vol

33 deals

Broker

Malibu 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

1.89%

Cash-on-Cash

-0.54%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93