Newsletter: Hot Property: Real estate never sleeps
Looking inside the homes of notable owners can reveal quite a bit: style preferences, creativity and personality quirks, to name a few. And as we learned this week, a home also can tell us about the owner’s business savvy.
This week, we saw investment properties and vacation homes make headlines. Join us for another look at the deals that made dollars, cents and news.
Funnyman on the move
Ray Romano of “Everybody Loves Raymond” fame parted ways with a home in the San Fernando Valley, selling the single-story for $1.025 million.
That seems rather modest for an entertainer with an estimated net worth of $130 million. If we were the betting type, we’d wager the approximately 2,700-square-foot home was used to house relatives, guests or members of the Romano entourage.
Despite taking a slight hit on the property — Romano bought the house at the height of the market in 2006 for $1.1 million — he did manage to get $45,500 over the asking price.
‘Housewife’ plays the long game
Nicollette Sheridan saw a nice return on her investment from the recent sale of her longtime home on the Westside.
The actress of “Desperate Housewives” fame sold the ranch-style house for a little more than $2.724 million. That’s more than twice what she paid for the property three decades ago: $1.15 million.
Set against a hillside on 1.5 acres, the house had been offered for lease in recent years for as much as $13,500 a month. Not a terrible sum for a park-like retreat tucked away in Bel-Air.
Scripting two exits
Oscar-winning screenwriter Alan Ball apparently likes to do things in twos. Ball, who penned the screenplay for the 1999 film “American Beauty,” put his Craftsman compound in Hollywood Hills up for sale earlier this year. Now he’s fielding offers for his equestrian estate in Ojai.
On the market for $5.89 million, the animal-friendly 1960s Mediterranean retreat features horse facilities, a covered dog run and an aviary, among other things. Views from the 40-acre property take in the surrounding valley, vistas and a nearby reservoir.
A piece of her empire
“Empire” star Taraji P. Henson has cast herself in a new role: landlord. The television and film actress has put her home in the Beachwood Canyon area up for lease at $12,000 a month. The three-story home, which draws from Moorish influences, was previously for sale at $2.995 million.
Among features of note is a kitchen atrium, an outdoor lounge and a hot tub. Varying arches, custom millwork and ornate doors give the 4,200-square-foot home a one-of-a-kind look.
Henson put a piece of her personal "empire" up for lease at $12,000 a month. (Marc & Tiffany Angeles | Getty Images)
Former King nets a sale
Retired hockey pro Oleg Tverdovsky scored big with his recent home sale in Bel-Air. The all-star defenseman, who played for the Ducks and the Kings, sold his Mediterranean villa for $7.81 million — $2.41 million more than what he bought the property for six years ago.
Sitting on about two acres, the custom two-story is designed for indoor-outdoor living. Arched doors open to various courtyards and terrace patios, and living areas center on city, mountain and ocean views. A swimming pool with an infinity-edge spa completes the setting.
Tverdovsky sold his home in Bel-Air for $7.81 million. (Chad Z. King | Getty Images)
Expanded to perfection
Two years ago, “South Pacific” star Mitzi Gaynor parted ways with her longtime home in Beverly Hills for $4.9 million. Fast-forward to today and a renovated and expanded version of the property has been flipped for more than twice that amount.
The 1920s Spanish colonial villa, now measuring about 6,200 square feet, recently sold for $10.3 million to the daughter of a Russian billionaire. Among additions to the property is a new detached guesthouse and a separate pool house. There are five bedrooms, six full bathrooms and a powder room in all.
The Spanish colonial villa in Beverly Hills belonged to Gaynor for decades. (Luke Gibson)
Dolphin finds a new pool
Former Newbury Park High School star and NFL player Jordan Cameron has touched down in the Westlake Village area, buying a tricked-out home for $2.05 million.
The Pro Bowl tight end’s new domain doesn’t skimp on the outdoor features. A covered pavilion, a fire pit, a built-in barbecue and swimming pool and spa provide an atmosphere for entertaining. There’s even a lighted basketball half-court on the grounds.
From the archives
It was 20 years ago this week that a minor remodel of Dinah Shore’s longtime home in Beverly Hills began. Purchased from Shore’s estate the previous year, the new owners enlisted architect Gus Duffy to design a two-story mezzanine to connect the main house to the detached guest quarters.
A decade later, the 1949 Traditional came up for sale again and eventually sold to film actress Jodie Foster. Foster would own the property for five years before selling it to eyeglasses mogul Doug Barnes, who razed the vine-wrapped house and had a 14,000-square-foot contemporary built in its place.
What we’re reading
— If your weekend television viewing includes the HBO series “Vinyl,” this estate in Old Westbury, N.Y., may look familiar. Listed for $12.9 million, the 16-acre property was used in the filming of the Martin Scorsese series as well as a few of the filmmaker’s other projects, Newsday reports. It’s also the site where the Notorious B.I.G. filmed the music video for “Warning.”
— Do you have a hard time using basic power tools? If you answered yes, then prepare to feel some shame. In Paris, a medieval castle is currently being built without the help of any new technology. Gizmodo reports that builders have been working since 1997 — yes, 1997 — to assemble a castle using materials and techniques used during the 13th century. The castle is expected to be completed by 2022.
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