A home in Pacific Palisades that once belonged to President Reagan has sold for $5.211 million. The mid-century-style house had been listed two months ago at $4.999 million. That's a 4% presidential premium.
Set on close to two-thirds of an acre in the Riviera neighborhood, the single-story house features floor-to-ceiling windows, a den with a wet bar, a flagstone fireplace, an island in the kitchen, four bedrooms, four bathrooms and 4,764 square feet of living space. The house opens to a swimming pool and patio with city and ocean views.
Designed by William R. Stephenson and built in 1956, the General Electric Showcase House was state-of-the-art for the time in terms of energy-saving amenities.
The property last sold in 1988 for $1.95 million, public records show.
Sally Forster Jones of Coldwell Banker's Beverly Hills South office was the listing agent. Michael Manheim of Prudential's Brentwood office represented the buyer.