Richard Gere Acquires 31.8 Acre Single Family Property In New Canaan, CT From Paul Simon & Edie Brickell
New Canaan, Connecticut, United States
$10,800,000
Building Size
—
Asset Type
Single Family Residence
Closing
Aug 4, 2022
AI
The single-family property located in New Canaan, CT was recently sold for a price of $10,800,000. Spanning across 31.8 acres, this property offers a spacious and serene living environment.
Summary of transaction details
- Property Type: Single Family
- Transaction Amount: $10,800,000
- Market: New Canaan, CT
- Acres: 31.8
The buyer of this property was Richard Gere, famously known for his role in the movie "Pretty Woman." On the other hand, the sellers were Paul Simon, a renowned musician, and Edie Brickell, also a musician. This successful transaction highlights the collaboration of these esteemed individuals in the real estate market.
Players
New Canaan Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.47%
Cash-on-Cash
-0.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93