Maurice Marciano Acquires Beverly Hills Single Family From Fred Bernstein For $37.5M
SOLD
$37,500,000
National
See Similar DealsSingle Family9,300 SF
Sold 09/07/2022
SOLD
Maurice Marciano Acquires Beverly Hills Single Family From Fred Bernstein For $37.5M
Single Family9,300 SF
Sold 09/07/2022
Summary
Asset Type:Single Family
Price Per Square Foot:$4,032
Total Square Footage:9,300 SF
Transaction Type:Sale
A Single Family property located in Beverly Hills has been sold for a whopping $37,500,000. The property spans across 9,300 square feet, resulting in a price per square foot of $4,032. The transaction took place on 09/07/2022 and was facilitated by Westside Estate Agency.
Summary of transation details
- Property Type: Single Family
- Transaction Amount: $37,500,000
- Market: Beverly Hills
The buyer of the property is Maurice Marciano, the co-founder of Guess. On the other hand, Fred Bernstein, a developer, acted as the seller in this deal. The brokers involved in the transaction were Kurt Rappaport, Fred Bernstein, and Ethan Peskowitz, all of whom represent Westside Estate Agency.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,999,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$133,229.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$177,769.13
Annual Debt Service$2,133,229.58
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