Top real estate sales of 2016: L.A.’s record year included two $100-million sales

 

Jim Bartsch

The Playboy Mansion, which sold last year for $100 million, was among the $19.8 billion in L.A.-area properties sold between November 2015 and November 2016.

 

Neal J. Leitereg Contact Reporter

Jan. 6, 2017 6:00 AM

Storied estates and speculative development in Los Angeles County’s toniest neighborhoods pushed the high-end market to new heights in 2016.

Of the dozen single-family home sales of $30 million or more, two changed hands at $100 million — a record-setting mark once thought of as unattainable.

Here’s a larger look at the most expensive homes sold this year in Greater L.A.

$100 million — Holmby Hills

Daren Metropoulos, the son of billionaire investor C. Dean Metropoulos and principal at the investment firm Metropoulos & Co., made real estate history in August with the purchase of the Playboy Mansion.

The $100-million deal for Hugh Hefner’s longtime home and workspace was the biggest sale of a single-family residence ever recorded in Los Angeles County, eclipsing the previous county record set two years ago when the Westside manor known as Fleur de Lys sold for $88.3 million.

The Gothic Tudor-style home was designed by Arthur R. Kelly for department store scion Arthur Letts Jr. in 1927. The 29-room house includes chefs and catering kitchens, a game room and a screening room with a built-in pipe organ. Twelve bedrooms are within 20,000 square feet of living space; the master suite spans two floors.

As part of the sale, Hefner will remain at the estate for the remainder of his life. Metropoulos, who owns a property adjacent to the Playboy Mansion, plans to eventually connect the two estates.

Gary Gold and Drew Fenton of Hilton & Hyland, an affiliate of Christie’s International Real Estate, and Mauricio Umansky of the Agency held the listing for the mansion. Jade Mills of Coldwell Banker Residential Brokerage represented Metropoulos.

$100 million — Holmby Hills

In October, Platinum Equity founder and Detroit Pistons owner Tom Gores matched the record set by the Playboy Mansion with the purchase of a mega-mansion built on speculation.

The complex deal saw Gores trade a number of his own holdings as opposed to financing or making an all-cash purchase. He will retain a stake in the other properties in the event that they are developed or sold.

Developed by Gala Asher and Ed Berman, the more than 30,000-square-foot house is on a site where an estate once owned by Barbra Streisand once stood. Including several guesthouses, the property has 10 bedrooms and 20 bathrooms including a master suite of more than 5,000 square feet.

Ginger Glass of Coldwell Banker Previews International was the listing agent. Tiffany Martin and Christine Martin of the Agency represented Gores.

$90 million — Holmby Hills

Owlwood, the Carolwood Drive estate once home to actor Tony Curtis and later singing duo Sonny and Cher, sold to a development group headed by Woodridge Luxury Homes chief Robert ShapiroDawn Arnall, the widow of late billionaire and Ameriquest Capital Corp. founder Roland Arnall, was the seller.

Sitting on 10 acres of grounds, the residence includes a 12,200-square-foot Italian Revival-style mansion, two guesthouses, a swimming pool and a tennis court. The development group intends to retain the main house and subdivide the property to build four additional homes, according to sources not authorized to comment on the deal.

The Arnalls bought the home in 2002 along with two adjacent properties — the former homes of actress Jayne Mansfield and actress-swimmer Esther Williams — that were combined into one estate. Both residences were later razed, though the pool house and 70-foot-long swimming pool from Williams’ former home were retained.

Ann H. Dashiell of Douglas Elliman held the listing. Adam Rosenfeld and Kyle Giese of Mercer Vine represented the buyer.

$40 million — Beverly Hills

Tom Gores, as part of his $100-million purchase, sold a mansion on Beverly Park Lane to a California limited liability company.

Although details are scant, tax records show that the sprawling Mediterranean has 20,013 square feet of living space with seven bedrooms and 15 bathrooms. A large motor court, a swimming pool and spa, lawns and formal landscaping fill more than two acres of grounds.

Gores, through a limited liability company, bought the property six years ago for slightly more than $21 million, records show.

 

$39 million — Bel-Air

Developers Jonathan Adler and Joe Englanoff, through a Nevada-based LLC, sold a contemporary-style mansion built on speculation for $9 million less than the original list price of $48 million.

Designed by Paul McClean, the 14,230-square-foot home includes such amenities as a media room, a billiards room and a gym with a steam room. A wine cellar is accessed by way of a thumbprint security system.

Motorized glass doors open to an outdoor lounge and expansive decking. A 90-foot infinity-edge swimming pool also lies within the grounds.

Brandon and Rayni Williams of Hilton & Hyland Ben Bacal of Rodeo Realty, Mauricio Umansky of the Agency and Jade Mills of Coldwell Banker were the co-listing agents. Fred Bernstein of Westside Estate Agency repped the buyer.

$38.75 million — Beverly Crest

Designer and filmmaker Tom Ford finally found his trophy estate in December, buying the home of late socialite Betsy Bloomingdale for about two-thirds of the rumored asking price of $55 million.

The Roland Coate-designed home, built in 1929, sits on more than three acres in the 100 block of Delfern Drive and has a formal rose garden, a tennis court, a swimming pool and a pool house.

Architectural firm Marmol Radziner has been commissioned to update the home, which includes a wood-paneled library, a billiards room, formal and informal dining rooms and a pair of kitchens. There are a total of nine bedrooms and seven bedrooms in 9,680 square feet of living space.

Josh Flagg of Rodeo Realty was the listing agent. Kurt Rappaport of Westside Estate Agency represented Ford.

 

Link to article:  http://www.latimes.com/business/realestate/hot-property/la-fi-hp-top-sales-20170107-story.html