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Nick Molnar Of AfterPay Sells Bel-Air Mansion For $36.4M With Brokers David Parnes & James Harris
SOLD
$36,400,000
California
See Similar DealsSingle Family10,616 SF
Sold 11/13/2024
SOLD
Nick Molnar Of AfterPay Sells Bel-Air Mansion For $36.4M With Brokers David Parnes & James Harris
Single Family10,616 SF
Sold 11/13/2024
Summary
Asset Type:Single Family
Price Per Square Foot:$3,428
Total Square Footage:10,616 SF
Transaction Type:Sale
A single-family mansion designed by Richard Manion, located in Bel-Air, Los Angeles, was sold for $36.4 million. The property encompasses 1.12 acres and features six bedrooms. The estate, with a total of 10,616 square feet, resulted in a price per square foot of $3,429.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $36,400,000
- Square Footage: 10,616
- Price Per Square Foot: $3,429
- Seller: Nick Molnar - AfterPay
- Brokers: David Parnes, James Harris & Linda May - Carolwood Estates
- Purchase Price in 2022: $34,800,000
- Flip Amount: $1,600,000
Nick Molnar, the co-founder of AfterPay, was the seller in this transaction, having previously acquired the estate in 2022. The deal was facilitated by brokers David Parnes, James Harris, and Linda May, members of Carolwood Estates.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,941,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$129,321.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$172,554.57
Annual Debt Service$2,070,654.84
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