A cannabis entrepreneur, a former motion picture studio head and a cosmetics executive are among the latest movers and shakers in L.A. County’s residential real estate market. Here’s a look at the priciest residential home sales that closed in February.
$15.5 million — Rolling Hills
Aaron Leon, founder and chief executive of Long Beach-based printing supplies retailer LD Products, and his wife, Megan, paid $3 million less than the asking price for a contemporary-style ranch house on East Crest Road. The sellers were Los Angeles investment banker Brent Stevens and his wife, Marie Annette.
The high-dollar sale is among the priciest historically in the guard-gated community and the most expensive since October, when a nearby mansion with five subterranean levels sold at auction for $22.4 million.
The gated estate sits high up on a knoll with ocean and city views. In addition to the main house, the six-acre property has a swimming pool, a pool house, a tennis court and an Olympic-sized riding ring. Meandering trails connect the various amenities and structures.
The ranch house, built in 1950 and since renovated, has 6,100 square feet on a single level. An open-concept living room, a chef’s kitchen, a family room, five bedrooms and four bathrooms are among living spaces.
Gerard Bisignano of Vista Sotheby’s International Realty was the listing agent. Kevin Pratt of Strand Hill Christie’s International Real Estate represented the buyers.
$15 million — Brentwood
On North Woodburn Drive, Miriam Schaeffer, co-founder and former executive of Calabasas-based nail polish company OPI Products, paid about $4 million less than the asking price for an Italianate-style estate. James Gordon, founder and managing partner of Chicago-based private equity firm Edgewater Funds, was the seller.
Designed by William Heffner, the 10,150-square-foot residence boasts book-matched marble slabs, custom steel-framed French doors and a wine vault with 7,000-bottle storage. A subterranean garage has space for six vehicles.
Junior and grand dining rooms, a library, a gym and a 15-person screening room are among the living spaces. Including a guesthouse, there are six bedrooms and 7.5 bathrooms.
Sam Real of Engel & Volkers and KC James Dorame of Keller Williams Realty were the listing agents. Jacob Dadon of the Agency represented the buyer.
$12.875 million — Hollywood Hills West
Michael King, co-founder of Palm Springs-based cannabis cultivation, processing and distribution company Kings Garden, paid $1.25 million less than the asking price for a modern tour de force on Hedges Place.
The striking home, designed by Belzberg Architects, features streamlined living spaces, walls of floor-to-ceiling glass and views extending from city to ocean. Built in 2017, the house has five bedrooms and six bathrooms in 7,000 square feet of interior. A floating staircase connects both floors.
Pocketing glass walls on the main floor open to a patio that surrounds a zero-edge swimming pool. A sunken conversation pit with a fireplace feature sits near the pool.
Patrick Fogarty, who is listed as a manager of the corporate entity that sold the home, and Tyrone McKillen of Hilton & Hyland were the listing agents. Roger Perry of Rodeo Realty represented the buyer.
$11.75 million — Brentwood
On Highwood Street, a corporate entity paid $950,000 less than the asking price for a vacant lot. The sellers were David O’Connor, the former managing partner of Creative Artists Agency, and his wife, screenwriter Lona Williams.
Described in the listing as a development opportunity, the lot measures about an acre with 110 feet of street frontage. The property is next door to O’Connor and Williams’ home of more than a decade, which is currently for sale at $18.7 million.
David Offer of Berkshire Hathaway HomeServices California Properties was the listing agent. Kurt Rappaport of Westside Estate Agency represented the buying entity, which lists its tax address as the Beverly Hills office of Westside Estate Agency.
$10.8 million — Encino
Victor Kaufman, the former chief executive of Tri-Star Pictures and current vice chairman of Expedia Group, and his wife, Loretta, paid about $2.2 million less than the asking price for a newly built home on High Valley Place.
Located in the Royal Oaks enclave, the hedged and gated estate measures 12,500 square feet with 10 bedrooms and 11 bathrooms. An open-concept living room with a wrap-around wet bar sits beyond the entry. In the dining room, a wall of windows look into a paneled wine cellar.
Outside, a matching guesthouse sits adjacent to the main residence. A sports court, a swimming pool, a covered barbecue pavilion and lawn make up the grounds, which measure about two-thirds of an acre.