Top 10 Entertainment Business Real Estate Deals of the Year
Despite the down residential real estate market, there were several high-profile transactions in the Los Angeles area involving entertainment business players. From actors, to producers and executives, plenty of people were wheeling and dealing in 2010. Here’s a look at some of the year’s most notable residential transactions:
-- Paramount Pictures CEO Brad Grey purchased the former Holmby Hills home of Frank Sinatra for $18.5 million in mid-November. The house, situated on 2.3-acres, is located in a prestigious Los Angeles neighborhood that’s long been home to Hollywood luminaries. Neighbors include Danny DeVito and Rhea Perlman, and philanthropist Suzanne Saperstein.
-- Tom Hanks and Rita Wilson purchased a 14,500-square-foot Pacific Palisades residence from producers Kathleen Kennedy and Frank Marshall in February. The four-bedroom modern home reportedly sold for more than $26 million.
-- Seal and Heidi Klum purchased an eight-bedroom residence in Brentwood Country Estates for $14.2 million in December. The 12,300-square-foot house is located in a gated neighborhood in Brentwood that is also home to Gov. Arnold Schwarzenegger and Maria Shriver.
-- Candy Spelling closed the deal for her $35 million penthouse unit at the Century condominium tower in December. The sale price of the 15,555-square-foot Century City residence was originally slated to be $47 million before developer Related Cos. gave Spelling concessions in the deal. Spelling’s Holmby Hills mansion is on the market for $150 million.
-- Harrison Ford and Calista Flockhart purchased a Brentwood estate for $12.65 million. The seven-bedroom estate, built on about an acre, includes a guesthouse with screening room, a master suite with his and her marble bathrooms and an expansive backyard with swimming pool.
-- Nicolas Cage’s former Bel-Air estate, which failed to move at an April foreclosure auction, was purchased buy an undisclosed buyer in November. The 11,817-square-foot residence, which Cage tried to sell in 2008 for about $30 million, sold for $10.5 million.
-- Dennis Hopper’s Venice compound went under contract to an undisclosed buyer in December. The late actor’s property, which was listed at $5.8 million, includes three condominiums designed by architect Frank Gehry. The sale price is unknown.
-- Judd Apatow and Leslie Mann sold their Pacific Palisades home for $5.26 million. The 6,000-square-foot residence is situated on verdant grounds; features of the five-bedroom home include a library and temperature-controlled wine room.
-- Diane Keaton sold her Spanish Colonial Revival estate to Ryan Murphy in the fall. The courtyard-style home in Beverly Hills had been listed at $10.95 million; the sale price was undisclosed. Murphy, creator and executive producer of Glee, also listed his 3,210-square-foot Hollywood Hills home in the fall for $3.25 million.
-- Producer Mike Medavoy purchased a Beverly Hills home from Training Day director Antoine Fuqua for $6 million. The roughly 9,000-square-foot Mediterranean home includes six bedrooms and a screening room.