Southern California’s historic yr of luxurious actual property ended with a bang simply earlier than Christmas, as Owlwood — a Holmby Hills mansion that after listed for $180 million — offered for $88 million.
The large off-market deal, which offered as three separate parcels, closed Dec. 23, The Occasions has confirmed. It was Los Angeles County’s third-priciest residential actual property transaction of 2020 behind Jeff Bezos’ $165-million buy and Jeffrey Katzenberg’s $125-million sale, each of which passed off in Beverly Hills.
Data reveal the customer was Calch City Investments, a newly registered restricted legal responsibility firm based mostly in Illinois. The proprietor behind the LLC stays unclear.
Spanning 10 acres simply down the road from the Playboy Mansion, the famed compound has a storied previous with a notable architect, celeb residents and a latest proprietor indicted in a Ponzi scheme. It facilities on a 12,000-square-foot Italian Revival-style mansion designed in 1936 by Robert D. Farquhar, an L.A. architect whose different initiatives included the Pentagon, Beverly Hills Excessive College and the California Membership.
A sequence of high-profile gamers owned the house within the following a long time together with twentieth Century-Fox Chairman Joseph Schenck, oil tycoon William Keck and Resort Bel-Air founder Joseph Drown. Actor Tony Curtis lived there within the ‘60s, and he offered it to pop duo Sonny and Cher within the ‘70s.
In 2009, it was acquired by a extra controversial determine: Robert Shapiro, an actual property developer who a decade later was sentenced to 25 years in jail for operating a $1.3-billion Ponzi scheme. He paid $90 million for the property via his agency, Woodbridge Group of Corporations, and tried to double his cash in 2017, itemizing it for $180 million earlier than trimming the value a yr later to $115 million after Woodbridge filed for chapter. The property was offered as a part of the chapter settlement.
On the entrance of the property, a driveway wraps round a spacious garden anchored by a fountain. Two constructions occupy the regal grounds: a principal home topped by clay tile and an ivy-clad guesthouse. They mix for 9 bedrooms and 10 loos.
Grand public areas with interval particulars fill out the principle home. There’s a dramatic lobby, a wood-paneled front room, an oval solar room and a major suite with a fire, lounge, spa lavatory and ornate moldings. Rolling lawns and mature landscaping are discovered exterior, descending to a sunken tennis courtroom and a swimming pool adjoined by a veranda.
Tomer Fridman, Sally Forster Jones and Tyrone McKillen of Compass, together with Drew Fenton of Hilton & Hyland, held the itemizing.
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