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Two sales north of $50 million topped L.A.'s home-sale charts in May

Two sales north of $50 million topped L.A.'s home-sale charts in May
The Holmby Hills estate of late Paramount Pictures Chairman Brad Grey, which sold for $70 million, sits on a two-plus-acre lot where singer Frank Sinatra once lived. (Simon Berlyn | Berlyn Photography)

The estates of two late entertainment heads and a French-inspired mega-mansion built by one of Los Angeles’ most controversial developers were among the high-priced homes to sell in L.A. County the month of May.

Here’s a closer look.

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$68.822 million — Holmby Hills

On North Carolwood Drive, an estate built for late Paramount Pictures Chairman and Chief Executive Brad Grey sold for about $8.7 million less than the asking price.

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The transaction is among the priciest historically in the tony Westside pocket tucked in between Beverly Hills and Bel-Air, property records show. It trails only a handful of landmark deals: a pair of $100-million sales involving the Playboy Mansion and a modern spec compound now owned by Detroit Pistons owner Tom Gores; the $90-million sale of Owlwood; and the $74-million sale of the onetime Walt Disney estate.

The wood-clad residence, which draws inspiration from modern- and farmhouse-style architecture, was designed by Howard Backen and completed two years ago. It features 12,800 square feet of living space, a barn-inspired great room, a home theater and five bedrooms.

A raised bridge connects the main house to a two-story recreation facility, which has two gyms and a blue-bottomed swimming pool. A dining courtyard, olive trees, an organic orchard and vegetable and herb gardens make up the grounds.

Linda May of Hilton & Hyland and Stephen Shapiro of Westside Estate Agency were the listing agents. May also represented the buyer, a limited liability company tied to billionaire investor Bruce Karsh.

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$56 million — Bel-Air

A French chateau-inspired mega-mansion built by controversial real estate developer Mohamed Hadid sold for $29 million less than its original asking price. The buyer of the property on Nimes Road was a corporate entity tied to investor and lifestyle entrepreneur Max Fowles-Pazdro.

Hadid, who last year pleaded no contest to misdemeanor charges related to his construction of another mansion in Bel-Air, built the 35,000-square-foot home in 2007. He sold it three years later to Turkish businessman Sarp Turanligil for $50 million, public records show.

Known as Le Belvedere, the sprawling residence boasts such amenities as a ballroom, a Moroccan-themed entertaining room and a 5,000-bottle wine cellar. A spa room was designed after a Turkish bath. There are 10 bedrooms and 14 bathrooms spread across two levels.

The 2.2-acre property has an infinity-edge swimming pool, fountains and formal gardens. A large circular motor court sits off the wide front of the home.

Joyce Rey of Coldwell Banker Residential Brokerage and Stacy Gottula of the Agency held the listing. Stephen Resnick and Jonathan Nash of Hilton & Hyland, along with David Parnes and James Harris of the Agency, represented the buyer.

$33.85 million — Pacific Palisades

The San Remo Drive estate of late television syndication mogul Michael King changed hands in a record-setting deal for the Westside neighborhood.

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The sale price, although down from its original ask of $42 million, eclipsed the previous high-water mark for a single-family transaction in Pacific Palisades by about $1.35 million, records show.

The Georgian-style estate, designed and built in 2005 by Ferguson & Shamamian, sits on a one-plus-acre lot with city and ocean views. The 15,000-square-foot house features interior design work by former White House decorator Michael S. Smith and grounds done by landscape designer Deborah Nivens.

Among details of note are hand-painted walls, inlaid mother-of-pearl, a wood-paneled office and a game room. The two-story floor plan includes seven bedrooms and 10 bathrooms.

A swimming pool and spa, pool house, terraces and gardens make up the grounds.

Elisabeth Halsted of Berkshire Hathaway HomeServices California Properties was the listing agent. Joyce Rey of Coldwell Banker Residential Brokerage represented the buyer, a limited liability company tied to Bui Simon, a former Miss Universe and wife of Indiana Pacers owner Herbert Simon.

$20 million — Malibu

It wouldn’t be a 2018 top sales list without at least one mention of Malibu.

On Cliffside Drive, a limited liability company tied to designer Alexandra von Furstenberg, daughter of billionaire entrepreneur Robert Warren Miller, sold to another corporate entity for $2.5 million less than the original asking price.

Described as a midcentury ranch-style house, the renovated single-story sits on a 1-acre bluff in the Point Dume area. The 2,273-square-foot house has three bedrooms, three bathrooms, high ceilings and walls of glass that take in sweeping ocean views.

A UV-blocking awning provides cover for expansive decking, which connects to a lookout lounge via a wood-plank walkway. A bocce ball court and separate office/bonus structure sit off the front of the home.

Christopher Cortazzo of Coldwell Banker was the listing agent. Cortazzo and fellow Coldwell Banker agent Kevin Augunas represented the buyer.

$15.907 million — Malibu

Los Angeles businessman D. Michael Talla sold an estate on Winding Drive to a limited liability company tied to Todd Blue, a Houston-based performance car dealer, for about $3.8 million less than the asking price.

The French Country-inspired home, built in 1992, sits behind gates and is reached by a winding drive that ends at a 10-car motor court. A 75-foot-long infinity-edge swimming pool, a lighted tennis court, a bocce ball court and lush landscaping fill more than 2 acres of grounds.

Inside, more than 10,100 square feet showcases French oak floors, mahogany doors and hand-troweled plaster walls. The master suite — one of five bedrooms and eight bathrooms — spans 1,750 square feet with two fireplaces, two bathrooms and two closets.

Christopher Cortazzo co-listed the property with Kurt Rappaport of Westside Estate Agency. Matthew and Joshua Altman, the Altman brothers of Douglas Elliman, represented the buyer.

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