Top Sales: A flurry of coastal sales caps off a cooling October in luxury real estate
Southern California’s red-hot real estate scene cooled a bit in October, with no extravagant spec mansions or Old Hollywood haunts to break through the $20-million mark. Moves were still made by many, however, including a billionaire’s ex-wife and a high-profile actress.
Here’s a closer look at the priciest deals that went down in L.A. and Orange counties last month.
$17.5 million — Malibu
Four of the five largest on-market deals in October came near the coast, including this Cape Cod that traded hands for $17.5 million on a bluff in Malibu’s Point Dume.
Records show the home was owned by Wendy Hughes, ex-wife of billionaire Public Storage founder B. Wayne Hughes. She paid $10.7 million for the property in 2012.
The coastal compound spans an acre and includes a main house clad in wood shingles, guest cottage, swimming pool and multiple lawns dotted with fruit trees and flower-laden trellises. Scenic decks line the backside of the home, descending to a private sandy beach with gated access to the ocean below.
Sandro Dazzan and Cooper Mount of the Agency held the listing. Ellen Francisco of Coldwell Banker Realty represented the buyer.
$14.7 million — Benedict Canyon
Actress Cameron Diaz and her husband, Good Charlotte rocker Benji Madden, paid full price for this architectural farmhouse in Beverly Hills, shelling out $14.7 million through a trust for the newly built mansion.
The nearly two-acre spread held a 4,700-square-foot home when it last sold in 2018, and the new development nearly doubled the living space, with the main house and guesthouse combining for seven bedrooms and 10 bathrooms across roughly 9,300 square feet.
Posh interiors designed by ANR Signature Collection include a two-story great room, formal dining room, wine room and movie theater. Outside, waterfalls feed into a custom swimming pool and spa.
Ginger Glass of Compass held the listing. Rebecca Edwardson of Hilton & Hyland represented Diaz and Madden.
$14 million — Pacific Palisades
Luxury real estate developer Fred Magid took bronze last month, selling a brand-new traditional-style estate for $14 million.
Perched on a third of an acre about a mile from the ocean, the home fits seven bedrooms and 8.5 bathrooms into 9,000 square feet, including an owner’s suite under vaulted ceilings that extends to a private balcony. Down below, a covered patio with a whitewashed brick fireplace leads to a grassy yard with a pool.
James Harris and David Parnes of the Agency held the listing. Fredrik Eklund of Douglas Elliman represented the buyer.
$13.15 million — Malibu
Kid Rock’s former compound found a new fan last month, as the Balinese-inspired estate traded hands for $13.15 million after less than a month on the market.
The seller, businessman Ryan Somers, had a bit more luck with the property than Kid Rock did. Records show the musician paid $11.6 million for the place in 2006, and after five years of price cuts and relists, sold it for $9.5 million in 2017.
There’s no shortage of style; the custom home is filled with Bali flourishes such as hand-carved doors, ebony wood floors and ornate woodwork. A similarly styled guesthouse sits on the other end of the property, and in between the two, there’s a long stretch of lawn with a swimming pool, flag pole and ivy-shrouded lounge.
Michael Cunningham of Pinnacle Estate Properties held the listing. Eric Lavey of Sotheby’s International Realty represented the buyer.
$13 million — Laguna Beach
Gene and Janet Miscione, two executives at Aliso Viejo-based Centon Electronics, hauled in $13 million for their Mission Revival-style house overlooking Shaw’s Cove in Laguna Beach.
They’d been trying to shed the estate for half a decade, originally listing it for $18 million in 2015.
The dazzling multilevel home sprawls down a bluff with a variety of outdoor spaces including an ocean-view lawn, dining patio, third-story balcony and second-story deck that descends directly to the beach. Inside, ornate ceilings, colorful Spanish tile, wrought-iron accents and picture windows touch up the 4,000-square-foot floor plan.
Josh and Matt Altman and Andy Stavros of Douglas Elliman held the listing. Tara Foster Shapiro of Pacific Sotheby’s International Realty represented the buyer.