Legendary Owlwood Estate in Holmby Hills Relists for $180 Million
Initial plans have been drawn up for a redevelopment of the property, but the $180 million price tag is for the property "as is." Nothing has been done to update the sprawling estate since it was purchased in September.
What a difference 10 months makes.
After grabbing headlines in September with his $90 million purchase of the Owlwood Estate (which was the onetime home of Hollywood luminaries like Tony Curtis, Sonny and Cher and 20th Century Fox co-founder Joseph Schenck), Sturmer Pippin Investments head Robert Shapiro has just relisted the Holmby Hills property and is now asking double that amount.
Since purchasing the home, which was at the time the second-largest sale in Los Angeles County history, Shapiro has assembled a team of architects and developers that includes Meyer Davis Studio and KAA Design Group to plan a massive redevelopment of the 10-acre property. But the $180 million price tag he is asking is for the property "as is," and the development plans haven’t been priced nor has a timeline been laid out.
It is unclear what prompted Shapiro’s decision to relist the property.
A release announcing the news makes reference to “intense market interest.” The property 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.
Mercer Vine co-founder Adam Rosenfeld is the listing agent.