Pacific Palisades home tied to record exec Mo Ostin sells for $4.86 million
A Pacific Palisades home purchased by legendary Warner Bros. Records President Mo Ostin and later deeded over to his late son, music executive Randy Ostin, has sold for $4.86 million.
Sitting on about a third of an acre, the home was purchased by Mo Ostin in the early ’80s for $403,500 and renovated to its current contemporary condition in 2002. Percentages of ownership were later deeded over to his son in several transactions beginning in 2008, property records show.
The approximately 4,800 square feet of white-walled living space has hardwood floors, vaulted ceilings and walls of windows that overlook the grounds. A two-way fireplace sits between the formal living and dining rooms, and the family room has a wet bar.
There are five bedrooms and 5.5 bathrooms including a guest suite with a separate entrance. The master suite has another two-way fireplace shared by a private balcony.
Outdoors, tall privacy hedges create a backdrop for the swimming pool and spa. A fire pit, various sitting areas, lawns and an outdoor shower complete the grounds.
Dena Luciano and Tracy Maltas of Douglas Elliman were the listing agents. Guy Reid of Engel & Volkers Santa Monica represented the buyer.
Randy Ostin, who died in 2013 at 60, was a promoter for Warner Reprise and RCA, breaking hits for the Eagles, Jackson Browne and Linda Ronstadt. Later in his career, he worked with nightlife mogul Mark Packer to develop the club TAO.
Mo Ostin, as president of Warner Bros. Records, is known for signing such acts as the Beach Boys, Neil Young, Eric Clapton and Prince. The 89-year-old was inducted into the Rock and Roll Hall of Fame in 2003.
Twitter: @NJLeitereg
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