Jeff Lewis

The Hollywood Reporter rounds up the biggest industry real-estate deals of the week with special commentary by real estate expert Jeff Lewis, the opinionated star of Bravo’s Flipping Out.

Sharon Stone Selling Five-Acre Bev Hills Estate at $8.995 Million

Built in 1991, this supremely-appointed estate has reportedly sat unoccupied since Sharon Stone acquired it for $11 million in 2006. Now, five years later, the home, a modern gated Mediterranean villa is situated on a private road in Beverly Hills. 

It's now just gone on the market for $8.995 million but Flipping Out's Lewis thinks the price is optimistic. "Her home has been on and off the market as many times as she has. Note to Sharon: if you didn't get $9 million in 2009, you're not getting it in 2011. Reduce you house by at least 20 percent, stage it properly and you'll find a buyer," he says. 

Sharon Stone Selling Five-Acre Bev Hills Estate at $8.995 Million

Stone's property include 7 bedrooms and 8 1/2 bathrooms, large formal dining room, and oversized living room, a gourmet kitchen opening out to a large covered patio, and a master suite with fireplace and large terrace. The listing is with Joe Babajian of Rodeo Realty. 

Ryan Reynolds’ Sunset Strip House Up For $1.6 Million

A 2 bedroom, 2 1/2 bath home in Outpost Estates owned by Ryan Reynolds has just gone on the market at $1.6 million – down from the $1.715M he paid in 2007. 34-year old Reynolds recently starred in Green Hornet and The Change-Up, and has at least another five films in production. 

"In my opinion this house is overpriced by at least 25 percent. It's not properly photographed or effectively staged," says Lewis. "I would price the property close to $1.2 million so it can compete with similar listings in the neighborhood. Clearly I'm not the only one who thinks so because this property has been on and off market since 2009."

Ryan Reynolds’ Sunset Strip House Up For $1.6 Million

The single-level home offers canyon vistas and a handful of creature-comfort features, like a shady, vine-covered patio and generous outdoor sitting areas. It clocks in at a modest 1,700 square feet. The listing is with Annie Challis of Keller Williams.

Real Housewife Lisa Vanderpump Sells Mansion and Trades Down

As reported on the Zillow Blog, Real Housewives of Beverly Hills' Lisa Vanderpump has sold her stately 17,000-square-foot French Chateau-style mansion in Beverly Park for an undisclosed amount. She reportedly accepted an unsolicited offer on the house, though it was previously on the market for $29 million. 

"The rumors are that Lisa Vanderpump and [her husband] Ken Todd's  Beverly Hills estate sold in the range of $19 million. I believe this is a good value for Beverly Park considering the square footage, lot size and condition. Hopefully the buyer is a woman or a very gay man because the white decor with pink accents is feminine. Think dollhouse on steroids," says Flipping Out's Lewis. 

Real Housewife Lisa Vanderpump Sells Mansion and Trades Down

The Bravo reality star/restaurant owner (Villa Blanca) and her husband are downsizing to an 8,800-square-foot mansion in Beverly Hills. She just purchased this 5-bedroom, 8-bathroom property, complete with a two story library, for $10.2 million. 

We had such a great offer on the house, one we couldn't refuse," Vanderpump told RadarOnline. "My daughter Pandora and son Max already moved out of the nest. So it's just Ken and me.

A Mobile Home in Malibu for… $2 Million

A double-wide, yes, a double-wide, just sold in the Paradise Cove mobile home park in Malibu for $2 million in cash. This 2,300 square foot, 2-bedroom, 2-bathroom nest occupies a prime spot within Paradise Cove, with panoramas of the Pacific Ocean and views of Santa Monica Bay. Throw in resident-only access to private beaches, and then take a quick glance at the Cove’s listings for detached beachhouses (both upwards of $45 million) and the $2M price tag begins to look less unbelievable. 

The price is still outrageous to Lewis. "Someone paid double for this double-wide. I feel there are far better values in Malibu for $2 million," he says.

Jim Wiatt Price-Chops in the Palisades

Last year, former William Morris chairman and CEO Jim Wiatt pulled this 11,544-square-foot mansion off the market after it failed to sell quickly at $19.5 million. 

He's now trotting it out at a significantly reduced $16.5 million. The Georgian-style house is located on Chatauqua Boulevard in Pacific Palisades.

Wiatt — who is in the midst of splitting with his wife Elizabeth — is now a strategic advisor at AOL.

Jim Wiatt Price-Chops in the Palisades

The Wiatts' house has a radiant-heated patio, pool with cabanas, a guesthouse, a sweeping semi-circular staircase, and a master suite with marble fireplace and dual baths.

The house also includes such eco-friendly features as a playroom area made with sustainable bamboo and non-toxic paint and carpet pad blue throughout the house.

The listing is with Leslie Kavanaugh (mother of Relativity's Ryan) of Sotheby's International Realty.

Jennifer Lopez Pays $18 Million in the Hamptons

Jennifer Lopez, who recently filed for divorce from husband Marc Anthony, has quickly begun the page-turning process, picking up a newly built, 14,000-square-foot Hamptons estate for a reported $18 million. Located in the picturesque Water Mill area, the home, done in Hamptons-traditional shingle, is loaded with upmarket amenities including Venetian plaster walls, coffered ceilings and marble counters. 

Jennifer Lopez Pays $18 Million in the Hamptons

Lopez' seven-bedroom, 9.5-bath waterview estate, designed by architect John Laffey, includes an elevator,  rotunda-style foyer, and a master suite with two decks. 

The two-acre property also boasts a pool pavilion with spa.

Rosie O’Donnell Purchasing $2.5 Million Chicago Townhouse

Rosie O'Donnell is settling into the Chicago area in anticipation of the launch of her new show on Oprah Winfrey's OWN network next month.

The actress is under contract to purchase a $2.5 million townhome in north Chicago's Lakeview area, reports the Chicago Tribune. 

The property was built in 2007 and boasts 6,000 square feet, five bedrooms and seven baths. It also comes with a three-car heated garage, a 2,000-square-foot roof deck, walk-in closets, a professional kitchen and a marble floor entrance hall, notes Realtor.com.

Brad Grey Lists Former Frank Sinatra House

Paramount Pictures CEO Brad Grey has listed the Holmby Hills home he bought in mid-November and is asking $23.5 million for the former Frank Sinatra-owned property.

Grey purchased the seven-bedroom North Carolwood Drive residence from an undisclosed seller for $18.5 million. The executive's real estate agent, Stephen Shapiro of Westside Estate Agency, said in an email interview that Grey and his Cassandra Huysentruyt have "fallen in love" with another home Grey owns nearby in Bel-Air and have opted to remain there.

Brad Grey Lists Former Frank Sinatra House

Agent Stephen Shapiro said that Grey had considered a significant remodel of the 8,631-square-foot red brick Mediterranean house or possibly building a new home there, which coudl have taken up to three years. Grey opted not to deal with the lengthy construction project, said Shapiro.

The property includes a motor court, chauffeur's quarters and swimming pool. The house has four main bedrooms and a staff wing with three others. It also includes two libraries and a garden room.

Sinatra bought the house in 1948 for $250,000.

Palm Desert House Built by Sinatra Up For Grabs

Villa Maggio, Frank Sinatra’s desert retreat in Palm Desert  was named after the role of Private Angelo Maggio he played in From Here to Eternity. Built in 1967 on seven-plus acres, this 10,000-square-foot, nine-bedroom, 13-bathroom retreat doubled as a getaway for his Rat Pack cohorts vacationing away from the spotlight.

Zillow Blog reports the property is listed at $4.8 million.

Palm Desert House Built by Sinatra Up For Grabs

Sinatra's former San Lorenzo Road property is situated on elevated granite terrain. Key original details are retained, like the kitchen Sinatra designed himself. It features a main house and two guest houses, a pool and helipad. 

According to Zillow's Diane Tuman, "Sinatra owned it for 12 years and then donated it to Loyola Marymount University. Evidently, the school didn't make use of it and sold it in 1989 for $1.4 million."

Millennium Films’ Mark Gill Selling 3BD in Silver Lake

Mark Gill, the president of Millennium Films, and screenwriter Hanna Weg have listed for sale a modern house in Silver Lake on Cedar Lodge Terrace, reports LA Blockshopper. 

Built in 1963, the 2,425-square-foot house includes three bedrooms and three baths. 

Millennium Films’ Mark Gill Selling 3BD in Silver Lake

Gill and Weg's Modernist house was designed by architect Roger Sherman and underwent a floor-to-ceiling remodel.

The open-floor-plan living room, dining room and kitchen feature refinished maple wood floor, stainless steel countertops and Viking appliances. 

The third bedroom is located in a self-contained guest unit on the lower floor with its own kitchen.

Ron Holliman of Coldwell Banker has the listing.

Hancock Park Welcomes New “White Collar” Resident

Matt Bomer, star of the USA Network series White Collar, is moving to the Hancock Park area of LA. According to the Realestalker, he has just purchased a stately 4,74- square-foot house which sits behind dense plantings and brick walls, suitable for ensuring the privacy of the actor-dad’s growing family. He has three children, Kit, Walker and Henry. 

The English Country-style house, bought for $3.215 million, includes six bedrooms, 4.5 baths and wood beam ceilings. All the first-floor rooms open to “the broad multi-purpose entertaining/lounging/dining/sunbathing terrace that steps down to the deep backyard," writes the Realestalker.

Gilmore Girls’ Production Designer’s $479,000 Digs

This house in Glassell Park is said to be owned by a production designer for such series as Gilmore Girls and Pretty Little Liars, reports Curbed LA.

The house, built in 1954, is on the market for an affordable $479,000. It clocks in at a petite 1,024 square feet with two bedrooms and 1.5 baths. 

Gilmore Girls’ Production Designer’s $479,000 Digs

The modern Eastside bungalow makes up for its small square footage with high design.

The renovated mid-century residence offers views from a spacious deck, a living room with beamed ceiling and fireplace, ebony wood floors, an all stainless-steel kitchen.

Ron Zate of Keller Williams has the listing.

Auction of House on Billionaire’s Beach Comes Up Short

Sometimes, even the mega-rich need to sell quick. Located on mogul-heavy Carbon Beach in Malibu, this 10,500 square-foot-beachside residence, was once listed at $65 million by its owner, investment banker William J. Chadwick. The financier fast-tracked the sale of this 2005-built, Cape Cod-style abode with a high-profile auction.

The Los Angeles Times reported the auction opened at $22 million, then stalled short of its undisclosed reserve price. The sellers are now fielding offers from the auction’s four bidders

The new owner will be neighbors with DreamWorks co-founder David Geffen and about 150 feet of ocean shoreline. Much of said waterfront is visible from the home’s 4,500 square feet of deck space. Six bedrooms and 9.5 bathrooms occupy a light-filled floor plan with a pub, gym, wine cellar and 16-seat home theater inside, and beachfront pool and spa outside.