Lionsgate CEO Selling L.A. Estate (Exclusive)
Jon Feltheimer is asking $14.75 million for the Holmby Hills property near the Los Angeles Country Club.
Lionsgate CEO and co-chairman Jon Feltheimer has listed a prime piece of Holmby Hills property for sale after scuttling plans to scrape the site and build a new home there, according to real estate sources.
The residence on South Mapleton Drive is in a coveted section of the tony street that backs up to the Los Angeles Country Club’s North Golf Course. Feltheimer is asking $14.75 million for the 1.3-acre property, which he purchased for $9.8 million in December 2009.
Though that price increase appears dramatic — particularly during a period of stasis for L.A.’s residential real estate market — the immediate neighborhood has grown in popularity. Less than 10 homes on the street back up to the golf course.
“It’s the sweet spot on the street; that’s why it commands these premium prices,” says Drew Fenton, a Hilton & Hyland real estate agent, who specializes in luxury properties. He had no knowledge of the Feltheimer listing.
Feltheimer’s property is three doors down from the 57,000 square-foot Spelling mansion, which is being purchased for $85 million. The house is also near the estate that Paramount Pictures CEO Brad Grey purchased for $18.5 million in mid-November.
The five-bedroom, 6,392-square-foot home that is situated on Feltheimer’s property will likely be razed once it changes hands. Real estate observers consider it a teardown. The property offers views of the golf course and is next door to another home that traded hands last year for roughly $13.6 million and was recently demolished.
Feltheimer, married and the father of four children, is attempting to unload the residence after deciding against the construction of a new manse on the site — a costly and lengthy endeavor, sources say. He is said to have never lived at the home, which was built in 1927.
Until the executive finds a new home, he is living at a high-rise residential tower on Wilshire Boulevard in Westwood. Other residents there include Bruce Willis, Larry King and Matt Kemp of the Los Angeles Dodgers. Prior to moving into the tower, Feltheimer previously lived in a home in Beverly Hills.
A Lionsgate spokesman declined comment. David Offer of Prudential California Realty, who has the listing on Feltheimer’s property, declined to comment.