After a slow start to the season, Los Angeles County's high-end market may finally be springing to life. A deal for the longtime Beverly Hills home of Albert “Cubby” Broccoli, producer of more than a dozen James Bond films, is in the works for an eight-figure price that would set a high-water mark for the year.
Hotelier Brad Korzen and noted designer Kelly Wearstler, who acquired the property in 2005, have entered into an agreement to sell the estate to fashion designer and filmmaker Tom Ford for $53 million, according to sources not authorized to comment on the off-market deal.
The same sources also debunked rumors that hip-hop mogul Jay Z and wife, Beyoncé, had serious interest in the home. Yes, it seems that despite persistent gossip of the couple’s big offers and bidding wars with billionaires, Jay and Bey will continue on as L.A. renters — much like they have in recent years.
Obscured from the street by fences and tall privacy hedges, the sprawling estate has a long history of celebrity owners and tenants.
The home was built in the 1920s for silent film actor Hobart Bosworth, who sold the property in 1933 to actor William Powell. Powell, known for his role as Nick Charles in the “Thin Man” film series, commissioned architect James Dolena to turn the Spanish mansion into its current Georgian/Regency-inspired form.
Broccoli, who died in 1996 at age 87, acquired the home in 1969; the property was owned by his family until 2005. Actress Diane Keaton makes a cameo in the chain of occupants, having leased the estate for four years.
Set on 3.2 manicured acres, the sprawling property includes a main house with seven bedrooms and nine bathrooms, a two-bedroom guesthouse, a swimming pool and a tennis court. A large motor court sits off the entrance.
Other features of note include a gym and a screening room.
At $53 million, the sale, once closed, would eclipse this year's price record set by another Beverly Hills property. That house, located near Minecraft creator Markus Persson’s over-the-top mansion, changed hands last month for $38.27 million in a deal that also occurred outside the Multiple Listing Service.