In the waning months of 2016 a trifecta of record setting sales — two of which breached the $100 million mark — redefined what constitute a momentous real estate deal and capped off another scorching hot year.
Even if — as many experts anticipate —2016 goes down in history as the high water mark for the current boom in Los Angeles’ luxury real estate market, it will have been one heckuva run. It’s been five years of scorching-hot growth for L.A.’s residential market and things have barely cooled with the median home price on track to increase seven percent in 2016 over the previous year.
The year started off strong and held steady through each fiscal quarter. But it was the waning months that will be remembered as redefining what constitutes a momentous real estate sale, at least in the high end of the market. Capping off 2016 were a trifecta of astronomically huge deals that started with the record-setting sale of the Playboy Mansion in August and went on to include a few other choice parcels of real estate that bear some of the city’s most remarkable history.
When it comes to the number of lost cultural icons — Prince, David Bowie and Leonard Cohen — and the residual malaise from the presidential election, for many 2016 may go down as one of the most psychically dismal years in recent memory. But don’t tell that to the lucky few who work in and around L.A.’s high end real estate market. For them, it was another banner year.
So with that in mind, here they are — the ten biggest L.A. County residential real estate deals in 2016.
Notable: This 6 bedroom, 9 bathroom California traditional home recently went through an extensive remodel by the architect Ken Ungar and sits on more than half an acre within the neighborhood of north Brentwood Park. The home’s interior centers around a sunken living room with a marble fireplace that adjoins the dining room. The second floor offers an expansive master suite with its own marble fireplace, and a large private balcony overlooking the grounds.
Agents: Santiago Arana of The Agency represented the seller while Josh & Matthew Altman of Douglas Elliman represented the buyer.
Notable: Situated in the Bird Streets, this 8,290-square-foot home which was completed in 2016 by the designer Paul McClean, offers views of downtown L.A. and features glass and slab marble walls, a screening room, a game room, a gym, and an infinity pool. The home was reportedly purchased by Mark Kress, who started a company that manufactures hair care products to cover bald spots for men.
Agents: Drew Fenton of Hilton & Hyland
Notable: This home in Pacific Palisades was originally listed in January for $27 million. It has seven bedrooms, eleven bathrooms and is perched on a 37 thousand square feet lot with dramatic ocean views. The grounds feature a private cobbled motor court, a fruit orchard, a lap pool, spa and an outdoor entertaining area with a kitchen and bar.
Agents: Gary Glass of Gary Glass Estates
Notable: A ground up development by DIJ Group, this gated home was built on a 33 thousand square foot lot and has 6 bedrooms and 5.5 bathrooms with a decidedly modern flair. The master suite offers views of Beverly Hills, there is a wine cellar, indoor/outdoor living spaces ideal for entertaining and a high ceilinged living room that converts into a screening room. The grounds also include an infinity pool.
Agents: Jade Mills of Coldwell Banker and Drew Fenton of Hilton & Hyland
Notable: This five-bedroom, 8.5 bath, 12,530 square foot mansion originally went on the market for $38 million in March of 2014. The home offers 280-degree views, a bar, a 2,000-square-foot master suite, a gym, a home theater, a wine room, office, outdoor kitchen, fire pits, and a spa.
Agents: Branden Williams and Rayni Williams of Hilton & Hyland and Ben Bacal of Rodeo Realty
Notable: Completed in 2003 and situated on a 1.5 acres of land that overlooks the Bel-Air Country Club, the 20 thousand square foot mansion is comprised of a formal dining room, a screening room, an indoor spa and gym, exercise studio, billiard room, wine cellar, poolside interior cabana, and a full guest apartment with its own private entrance.
Agents: Jerry Jolton of Coldwell Banker/Previews International was the listing agent while Joy Denton of Sotheby's International Realty represented the buyer.
Notable: In what has to be the year’s most serendipitous pairing the director and fashion designer Tom Ford who is making the rounds on the awards circuit with the psychological thriller Nocturnal Animals, which stars Amy Adams and Jake Gyllenhaal, is the new owner of the gated estate, which was rumored to have been shopped around from anywhere between $40 million to $60 million. The home was where Betsy Bloomingdale and her late husband, the department-store heir and financier Alfred, called home for decades and the grounds include a tennis court, a large pool, a pool house and impeccably manicured dahlia and rose gardens. The main house was originally constructed in the 1920s and was redesigned by the decorator and designer Billy Haines in 1958.
Agents: Josh Flagg of Rodeo Realty was the listing agent and Kurt Rappaport of Westside Estate Agency represented the buyer.
Notable: Sold in September, the property that was home to a string of Hollywood luminaries including Tony Curtis, Sonny and Cher and 20th Century Fox co-founder Joseph Schenck expands across 10 landscaped acres that encompass three legal parcels that were bound together. There is a tennis court, a pool, an expansive pool house and a guard tower. A section of the property abuts the Los Angeles Country Club. The main house is a 12,200-square-foot mansion built in 1936 and designed in the Italian Renaissance style by the architect Robert Farquhar. Robert Shapiro, who heads up Delaware-based LLC Sturmer Pippin Investments.
Agents: Ann Dashiell of Douglas Elliman’s Beverly Hills office was the listing agent. Adam Rosenfeld, founding principal of Mercer Vine, represented the buyer.
Notable: The owner of the Detroit Pistons Tom Gores picked up this property in October, which was initially put on the market in April for $150 million. Along with the 38,000-square-foot 10 bedroom and 20 bathroom mansion, the 2.2-acre spread contains a theater room, a wine cellar, a spa with an indoor water wall that flows into a pool. The property also has several guest houses.
Agents: Ginger Glass of Coldwell Banker Previews International was the listing agent. Tiffany Martin and Christine Martin of the Agency represented the buyer.
Notable: When this historic five-acre property initially hit the market in January it had a sticker price of $200 million. It ultimately sold for half of that to businessman Daren Metropoulos. Hugh Hefner, the founder of Playboy Enterprises, will continue to occupy the mansion for the remainder of his lifetime and his company will pay Metropoulos $1 million a year for upkeep of the property for each year Hefner lives there.
Agents: Gary Gold and Drew Fenton of Hilton & Hyland and Mauricio Umansky of The Agency held the listing. Jade Mills of Coldwell Banker Previews International represented Metropoulos.