Bird Streets action may signal a takeoff
So far this year, we’ve seen more than 20 home sales of $10 million or more, only a slight uptick from the previous year, plus just a handful of $20-million-plus sales. Safe to say, the market for higher high-end homes in the Greater Los Angeles area has yet to cut loose in 2016.
But that could be changing if recent transactions are any indication. Here’s a look at the most expensive homes sold in the last two weeks.
$20 million — Hollywood Hills West
A newly built home in Doheny Estates sold in one of the priciest transactions historically for the affluent pocket within the Bird Streets neighborhood in Hollywood Hills West. The buyer was quasi-film producer and hair-loss entrepreneur Mark Kress.
Found in the 1800 block of North Doheny Drive, the multilevel modern listed for sale in February for $23.95 million and was in escrow after about three weeks. It is the most expensive sale for the affluent sub-area since 2013, when filmmaker Megan Ellison sold a nearby home to Gateway co-founder Ted Waitt for $20.5 million.
Developer Cody Leibel, the son of Canadian businessman Lorne Leibel, drew inspiration from his father’s advice to shape the glass-wrapped residence, which was designed in a way that the interiors are naturally lit by the movement of the sun.
His dad told him, “You will never have to turn on a light in a great house.” Says the younger Leibel: “Until the sun [goes] down, there’s not a single light that needs to be turned on in this house.”
The 8,290-square-foot house, designed by architect Paul McClean, has walls of glass and slab marble, 12-foot ceilings, a sculptural indoor waterfall and a 130-foot infinity-edge swimming pool that wraps the edge of the property. Views take in the downtown cityscape and the Pacific.
Justin Paul Huchel and Drew Fenton of Hilton & Hyland, an affiliate of Christie’s International Real Estate, were the listing agents. Michael Eisenberg of Keller Williams Beverly Hills represented the buyer.
$13.2 million — Hollywood Hills West
In the 9000 block of Nightingale Drive, a Doheny Estates contemporary taken down to the studs and rebuilt two years ago sold for $600,000 less than the asking price. The rub? The property had been shopped as a tear-down.
Originally priced at $13.8 million, the 5,000-square-foot house on more than half an acre was marketed by listing agent Ben Bacal as the site for a 12,000-square-foot home that, when developed, could garner as much as $70 million.
The hedged and gated single-story features an open floor plan with beamed ceilings, slate floors and two master suites. Five bedrooms, seven bathrooms, living and dining rooms and a chef’s kitchen are within the home.
Manicured grounds include a large entertainer’s patio and an infinity-edge swimming pool.
Bacal and Deanna Smith of Rodeo Realty had the listing. Tyrone McKillen of Hilton & Hyland represented the buyer.
$9.465 million — Beverly Hills
Suzanne Saperstein has made another splash in the Platinum Triangle, albeit a smaller one from her last go-around. The socialite, who two years ago famously sold the 50,000-square-foot Westside manor known as Fleur de Lys for $88.3 million, has bought an estate in the 900 block of North Bedford Drive for $530,000 less than the most recent list price.
The seller was cosmetic surgeon David Morrow of the Morrow Institute.
Set on more than half an acre, the Spanish Colonial-style home retains such 1920s details as oak hardwood floors, decorative tile risers and wrought iron railings. Formal living and dining rooms, a sun room, a library, a center-island kitchen, six bedrooms and eight bathrooms make up the floor plan.
A tile patio, a swimming pool and spa, and a tennis court fill the hedged-and-gated grounds.
Susan Smith and Avrille Krom of Hilton & Hyland were the listing agents. Attorney Michael Waddington repped the buyer.
$8.5 million — Bel-Air
Plastic surgeon and television personality Andrew Ordon of “The Doctors” fame closed sale on his 1.26-acre spread overlooking the Bel-Air Country Club. The contemporary-style home, with views of the city, canyon and golf course, was most recently listed at $8.65 million.
The two-story home in the 700 block of Stradella Road features open-plan living spaces, walls of glass and an office with custom built-ins. The master suite occupies the entire second floor for a total of three bedrooms and three bathrooms. The backyard has a pool and a patio. A garden and koi pond mark the entrance to the 3,746-square-foot home.
Jeeb O’Reilly and Nancie Richards of Compass had the listing. Ari Afshar, also with Compass, represented the buyer.
These are among the top residential real estate sales reported on the combined L.A./Westside Listing Service for the period from March 20 through April 2.
