Adam Levine’s exit from Holmby Hills among February’s priciest home sales
A Grammy-winning singer, a founder of network technology companies and the ex-wife of a billionaire were among parties involved in Los Angeles County’s biggest real estate deals in February. Here’s a larger look.
$26 million — Brentwood
On Oakmont Drive, the longtime estate of late businessman James “Jay” McMahan, founder of the McMahan’s Furniture chain and former director of Williams-Sonoma, sold for $6.5 million less than the asking price.
Built in 1918, the European Tudor-style home sits at the end of a long gated driveway on nearly 3 acres of grounds. There are eight bedrooms, seven bathrooms plus separate guest/maid’s quarters. The living room has a fireplace.
Outdoors, the park-like setting holds a tennis court, a swimming pool, specimen trees and a koi pond. Also on the grounds is a greenhouse.
Drew Fenton of Hilton & Hyland, an affiliate of Christie’s International Realty, was the listing agent.
$22.65 million — Torrance
Jeff Prince, co-founder of network technology companies Foundry Networks and ConSentry Networks, sold a beachfront estate on Paseo de la Playa to a corporate entity for $2.35 million less than the asking price.
The two-parcel property sits on 1.44 acres just north of Rat Beach, a beachfront stretch found between Torrance Beach and Malaga Cove. It includes a 10,200-square-foot main house, a roughly 5,500-square-foot guesthouse and an infinity-edge swimming pool. A lighted and fenced beach volleyball court sits at the edge of the grounds.
There are seven bedrooms, nine bathrooms, a home theater, an elevator and a gym. The home is heated and cooled by a geothermal energy system. Walls of windows center on unobstructed ocean views.
The sale is among the priciest historically in the South Bay area and a record for Torrance, property records show.
Chris Adlam of Vista Sotheby’s International Realty was the listing agent. Matt Altman of Douglas Elliman repped the buyer.
$20 million — Beverly Hills
Sue Gross, the ex-wife of billionaire money manager Bill Gross, paid $20 million for a midcentury time capsule on North Alpine Drive.
Gross has commissioned contractor Justin Krzyston, designer Sheldon Harte and architect Tom Jackway to do a full interior and exterior renovation of the home, which was designed by architect Hal Levitt and built in 1970.
“We are going to be meticulous about restoring the integrity of the home but also bringing it up to present-day speed,” Krzyston said in an email. “As much as I love carpet on the walls, we will be getting rid of all the outdated design components in an effort to give the house a major face-lift.”
The five-bedroom, six-bathroom house sits on a flat knoll of more than half an acre and has views of downtown L.A. As part of the renovation project, the original swimming pool and patio will be restored, and new fencing and landscaping will be added to the grounds.
John Nelson and Cat Moe of Coldwell Banker Global Luxury represented Gross in the purchase. Josh Flagg of Rodeo Realty had the listing.
$18 million — Holmby Hills
Maroon 5 frontman Adam Levine sold his home on Club View Drive to a limited liability company tied to economist Jonathan Orszag for $900,000 less than the asking price.
Levine, who is also a judge on the competition show “The Voice,” bought the house roughly six months earlier for the same price, records show.
Built in 1966, the Caspar Ehmcke-designed house is behind gates on a lot adjacent to the Los Angeles Country Club. The acre-plus property includes a 9,200-square-foot main house, a two-story guesthouse and a quatrefoil-shaped swimming pool. Another structure sits off the pool.
A circular foyer, formal living and dining rooms, an office/den, five bedrooms and 5.5 bathrooms are among the living spaces. The breakfast solarium has a view of the grounds.
Kurt Rappaport of Westside Estate Agency was the listing agent. Michael Nourmand of Nourmand & Associates represented the buyer.
$17.126 million — Beverly Hills
On North Crescent Drive, a tennis court estate traded between limited liability companies for about $1.9 million less than the asking price.
The traditional-style home, which was once owned by Cinedigm Chief Executive Chris McGurk, was built in 1982 and has six bedrooms, eight bathrooms and nearly 11,600 square feet of living space.
Parquet oak floors, coffered and beamed ceilings and a game room with a wet bar are among features of note. In the master suite, a separate sitting area holds a wood-burning fireplace.
Outside are a brick-rimmed swimming pool, a covered patio, lawn and landscaping.
The selling entity is managed by Michael Michelson, the former co-head of KKR & Co and Philadelphia Eagles minority owner; the buying entity is managed by businessman Simon Barlava.
Jason and Brett Oppenheim of the Oppenheim Group handled both sides of the transaction.
Twitter: @LATHotProperty
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UPDATES:
March 17, 2018, 10:58 a.m.: This article was updated with additional details.
This article was originally published at 5:15 a.m. on March 16, 2018.
