Record-setting deals in Manhattan Beach and Malibu headline L.A.’s top sales in May
In the month of May, the most expensive homes sold in Los Angeles County included record-setting deals on the Westside and South Bay. Here’s a larger look:
$85 million — Malibu
Music and movie mogul David Geffen sold his oceanfront compound on Pacific Coast Highway for an area-record $85 million. The off-market transaction is the most expensive sale historically in Malibu, public records show, besting the previous high-water mark set four years ago at $74.5 million.
Found along Carbon Beach, an affluent stretch named for its wealthy homeowners, the estate includes a main house, guesthouses and a pavilion/screening room. Gray shingles and white trim give an East Coast vibe to the exteriors.
Outdoors are an oceanfront swimming pool and spa, lawns and a patio.
The property previously made headlines when Geffen, 74, fought the California Coastal Commission over keeping closed the public beach access way next to his compound.
The buyer was ABS Capital Co. LLC, an entity with a Florida-based tax address.
$33.9 million — Bel-Air
A limited liability company tied to Ross Perot Jr., son of the onetime presidential candidate, sold in a deal completed outside the Multiple Listing Service.
The buyer was another entity managed by Andrea Wishom. Wishom is the chief operations office of Skywalker Properties, a private property management company owned by filmmaker George Lucas.
Called Mia Patria, the gated estate was previously owned by film and music producer Freddy DeMann and, before him, former Los Angeles Mayor Richard Riordan.
The Mediterranean-style house features 10,000 square feet of living space that includes a two-story entry, a screening room, a chef’s kitchen, five bedrooms and eight bathrooms.
French doors open to an expansive loggia and patios containing various fountain features. A swimming pool, a pool house/cabana, lawns, gardens and tropical landscaping complete the more than three-quarter-acre setting.
$27 million — Holmby Hills
On Charing Cross Road, the longtime home of film producer and executive Mario Kassar sold to a limited liability company for $2 million less than the asking price of $29 million.
Property records obtained by The Times show that the buying entity is managed by private equity investor and lifestyle entrepreneur Max Fowles-Pazdro.
Built in 1937, the sprawling estate sits behind gates and across from the Playboy Mansion. It includes a traditional-style main house, a swimming pool and spa, a tennis court and a motor court on more than 2 acres of grounds.
A total of five bedrooms and six bathrooms are within nearly 6,600 square feet of living space, according to tax records. French doors lead from the common areas to a brick-lined patio that surrounds the pool.
Jade Mills of Coldwell Banker Residential Brokerage was the listing agent. Stephen Resnick and Jonathan Nash of Hilton & Hyland, an affiliate of Christie’s International Real Estate, represented the buyer.
$21 million — Manhattan Beach
A Craftsman-style home in the 1000 block of the Strand set a price record for the South Bay community with its sale.
Built in 1922, the corner-lot property had been owned by the same family for six decades. It includes a four-bedroom main house and three guest apartments for a total of nine bedrooms and eight bathrooms in about 6,000 square feet.
Balconies and decking extend the living space outdoors. South-facing views take in the Manhattan Beach Pier and surrounding coastline.
The transaction bests the previous high-water mark set in March, when another home on the Strand sold for $18.4 million. To date, there have been a dozen sales of $10 million or more on the oceanfront stretch.
Victoria Beck of RE/MAX Estate Properties and Robert Schumann of Real Estate West were the listing agents. Schumann also represented the buyer.
$20.1 million — Beverly Hills
A former home of actress Marlene Dietrich and pianist Jose Iturbi sold in the 900 block of North Bedford drive for $105,000 over the asking price.
In most cases an above-ask sale would be cause for celebration. However, public records show that the sellers paid $23.5 million for the property two years ago.
The Mediterranean Revival-style house, built in 1926, has 8,790 square feet of living space that includes eight bedrooms and 6.5 bathrooms. A guesthouse with two additional bedrooms sits above the three-carriage garage.
A swimming pool and a pool house with his and hers changing rooms lie within more than an acre of grounds. Lawns, mature trees and formal landscaping complete the setting.
Florence Mattar of Coldwell Banker Residential Brokerage is the listing agent. Mitra Sisatar, also with Coldwell Banker, represented the buyer.
Twitter: @LATHotProperty
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