Top sales: Jeffrey Katzenberg’s $125-million home sale was L.A.’s priciest in August
A media mogul, a pop superstar and a television competition judge were among the biggest movers and shakers making waves in Los Angeles’ high-end real estate market in August. Here’s a closer look at the most expensive homes sold last month in L.A. County.
$125 million — Beverly Hills
Quibi founder Jeffrey Katzenberg sold his estate on Loma Vista Drive to a limited liability company in a deal completed off market.
Katzenberg purchased the six-acre estate in 2009 for $30 million and had a 26,000-square-foot home built on the site. Completed in 2012, the U-shaped house is approached by a tree-lined driveway that ends at a large motor court. Layers of gardens, lawn and mature trees unfold around the property, which overlooks the historic Greystone Mansion.
The $125-million deal is the third-priciest single-family home sale in California history, trailing Jeff Bezos’ $165-million purchase of David Geffen’s Beverly Hills estate and Lachlan Murdoch’s $150-million purchase of Bel-Air’s “Beverly Hillbillies” mansion.
Kurt Rappaport of Westside Estate Agency handled both ends of the deal.
$39 million — Malibu
Real estate agent Christopher Cortazzo pulled up anchor in Malibu, selling his bluff-top home on Cliffside Drive to a corporate entity in a deal completed off market.
Cortazzo bought the property in 2017 from the estate of late Hollywood talent agent Stanley Kamen for $17.1 million. Located in the Point Dume area, the oceanfront property encompasses more than an acre of grounds and has direct beach access. The original home, a Mediterranean villa dating from 1966, was razed after Cortazzo’s 2017 purchase.
Cortazzo, an agent with Compass, represented himself in the deal. Rappaport represented the buyer.
$25.8 million — Beverly Park
Newlyweds Justin Bieber and Hailey Baldwin made a major upgrade to their marital home, paying $16.2 million less than the original asking price for a mansion behind the gates of Beverly Park.
The couple’s new place has nearly 11,000 square feet of interior space, a tennis court and a swimming pool. A two-story entry with checkerboard marble tile kicks off the residence. Seven bedrooms, 10 bathrooms, a movie theater and a gym with mirrored walls fill out the floor plan.
The couple were previously living in an updated Monterey Colonial-style home in the Beverly Hills area.
Rappaport was the listing agent. Brothers Matt and Josh Altman of Douglas Elliman represented Bieber and Baldwin.
$25.8 million — Brentwood
A newly built home on Fordyce Road sold to a trust for the highest price in the Westside neighborhood this year.
Behind the gates of Brentwood Circle, the Mediterranean-inspired showplace was Brentwood’s fourth sale north of $20 million this year and the most expensive transaction since last summer when musician Lindsey Buckingham sold his place for $28 million.
Designed by architect William Hefner, the 9,300-square-foot home has a glass-walled entry, a vaulted-ceiling living room and a kitchen clad in marble and oak. Walls of windows bring light into the formal areas, while bi-folding doors in the family room open to a massive loggia with a fireplace and dining area.
The five-bedroom, seven-bathroom house sits on a 1.77-acre lot with lawn and landscaping. Elsewhere on the grounds is a swimming pool and sun deck.
Gary Gold of Hilton & Hyland was the listing agent. David Kramer, also with Hilton & Hyland, represented the buyer.
$25 million — Beverly Hills
Before breaking his back in a scooter accident, Simon Cowell was making a break to the bank after selling his home on North Palm Drive in an off-market deal.
The “America’s Got Talent” creator and judge saw quite a return on investment in the sale. Records show he bought the property in 2004 for $8 million.
The traditional-style house was extensively updated during Cowell’s ownership and features more than 9,300 square feet of living space filled with white walls and black accents. The two-story floor plan includes a gym, spa facilities and a solarium. An exterior cabana is outfitted with a retractable roof.
The house sits on more than three-quarters of an acre with a lap swimming pool, lawn and landscaping.
$23.6 million — Hollywood Hills
Olympic committee organizer Casey Wasserman, who in June sold his Beverly Hills estate to David Geffen, paid $1.4 million less than the asking price for an ultramodern home on Robin Drive.
Designed by Xten Architecture and completed this year, the 12,000-square-foot showplace is museum-like with its gallery walls and sparsely decorated living spaces. Box-like ceilings inspired by Stanley Kubrick’s “2001: A Space Odyssey” lend a futuristic vibe to the home.
In addition to five bedrooms and seven bathrooms, the house includes a movie theater, a gym and a lounge with a wet bar. The lower-level gym takes in canyon views.
Outside, the half-acre property holds a swimming pool, a spa and a landscaped courtyard. There’s also a subterranean eight-car garage.
Stephen Shapiro of Westside Estate Agency represented Wasserman. Branden and Rayni Williams of Hilton & Hyland held the listing.