Hot Property Newsletter: Jingle all the way to the bank with a record price
Christmas came early for a few Westside real estate agents this week when the legendary estate known as Chartwell sold for about $150 million, a new California price record. The agents — all eight of them — will split a sizable commission for their efforts. Just how sizable? A 2.5% commission would mean a $3.75 million take for the listing agents involved (or $468,750 per person before taxes).
Our Home of the Week is a dreamy aerie in the foothills of Montecito. Built in 2001, the contemporary-style home makes the most of its natural surroundings with walls of windows and a second-story deck. Stained-glass clerestories filter natural light within.
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– Neal Leitereg, Jack Flemming and Lauren Beale
Nailing down a deal
“Claws” star Niecy Nash has wrapped up some business in Bell Canyon, selling her home of about six years for $1.265 million.
Set among mature trees on three-quarters of an acre, the scenic estate packs in the outdoor amenities. Within the landscaped grounds are a gazebo, a terrace, a swimming pool and a three-car garage. A detached studio adds even more living space.
The main house has four bedrooms, a beamed-ceiling living room and a lofted lounge area with a kitchenette. One of the guest bedrooms had been used by Nash as a custom dressing room.
The sale is Nash’s second of the year. In the spring, she sold another place in Northridge for just under $1 million.
Buyer dishes out big bucks for Giada’s place
Celebrity chef Giada De Laurentiis is off to cook in a new kitchen after selling her home in Pacific Palisades. The Food Network star got the full $7-million asking price for the contemporary home, which features — you guessed it — a drool-worthy kitchen.
Other perks of the 6,500-square-foot residence include a vast open floor plan, a dual-sided fireplace and bi-folding doors that blend indoor-outdoor spaces. A lower-level lounge with a game room, media room and wet bar has windows that look into the depths of an infinity-edge swimming pool.
He was no city slicker
The former home of Oscar-winning actor Jack Palance is back on the market in the Beverly Hills Post office area for $3.895 million, a $900,000 discount from when it first listed for sale earlier this year.
A work of architect Paul R. Williams, the Georgian Colonial Revival-style house has been extensively updated and modernized. Among the features are a snazzy kitchen, marble-clad bathrooms and pocketing doors. Guest and staff suites are among the five bedrooms.
In addition to Palance, the 1940s house counts director Stuart Rosenberg among its former owners.
That’s one way to pump up a listing
Rockstar energy drink creator Russell Weiner may be hoping a price-chop will create some buzz around his Hermosa Beach home. The beverage peddler recently cut the price of the Strand-adjacent pad to $18.95 million, down from the original $21-million asking price.
The contemporary-style home has three levels of patio and decking including a rooftop deck with a fireplace and spa. Inside, more than 5,600 square feet of living space holds a home theater, four fireplaces, an elevator and a gym.
From the archives
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Thirty years ago, game show host and longtime Johnny Carson sidekick Ed McMahon listed his home in Beverly Hills for sale at $7.9 million. The 10,000-square-foot mansion — with six bedrooms, staff quarters and a projection room — was put up for sale as part of his divorce from his second wife, Victoria McMahon.
Twenty years ago, fresh off his performance in “The Hurricane,” Denzel Washington and wife Pauletta Pearson listed their Toluca Lake home for sale at just under $2 million. The Paul R. Williams-designed house, built in 1940, has been home to numerous stars through the years including comic and actor Leon Errol and actors William and Ardis Holden. The property is also where Ronald and Nancy Reagan held their wedding reception in 1952.
Ten years ago, television and radio host Larry King became the latest celebrity buyer at the ritzy Carlyle Residences when he forked over a few million for a three-bedroom unit in the high-rise. Other Hollywood names swayed by the 24-story, crescent-shaped tower were actor Bruce Willis and former William Morris chief Irv Weintraub.
What we’re reading
Prepare for more big things near the L.A. Live campus in downtown Los Angeles. Los Angeles Times business reporter Roger Vincent reports that Chinese developer City Century intends to build a $1-billion housing and retail complex after purchasing a development site across the street from the sports and entertainment hub for $121 million. Called Olypmia, the project could include more than 1,300 new apartments or condominiums.
Former President Barack Obama and former First Lady Michelle Obama appear destined to spend more time on the eastern seaboard after buying a vacation home on Martha’s Vineyard. The Chicago Tribune reports the Obamas paid $11.75 million for the 29.3-acre estate of Boston Celtics owner Wyc Grousbeck.