Iconic Neutra-Designed Home Featured in Slim Aarons Photo Hits the Market


The Kaufmann Desert House—once home to singer singer Barry Manilow—is listed at 5 million

Taken in 1970, Poolside Gossip shows Lita Baron approaching Nelda Linsk (right), wife of art dealer Joseph Linsk, and Helen Dzo Dzo as they chat by the pool at the Kaufmann house.Photo: Slim Aarons

One of legendary architect Richard Neutra’s iconic Palm Springs, California, homes is on the market for a potentially record-setting 5 million. The substantial price tag isn’t without good reason, however. The property, known as the Kaufmann Desert House, was immortalized in photographer Slim Aarons’s popular 1970 photograph Poolside Gossip, and is largely considered to be one of Neutra’s most recognizable works. As a means of comparison, the most expensive property ever sold in Palm Springs was owned by the late entertainer Bob Hope and went for 3 million in 2016.

The residence was originally built as a vacation home for department store magnate Edgar J. Kaufmann. Photo: DAN SOLOMON

Neutra, who worked with Frank Lloyd Wright before starting his own practice in 1930, built the house in 1946. The firm Marmol Radziner restored the dwelling in the 1990s, and architect Leo Marmol has called it “one of the seminal definitions of modern architecture in California.” With its use of glass, steel, and stone, the five-bedroom house is open and airy; separate wings branch out from a central hub, which comprises the living and dining room. There’s a wing for guest quarters, one for service resources, and an entire wing dedicated to the main bedroom suite.

The view from the poolhouse. DAN SOLOMON

All of the rooms are situated on a single level, aside from an open-air covered patio on a second level that Neutra referred to as “the Gloriette”—a play on the 12th-century French word gloire, or “little room.” According to Thomas S. Hines, who wrote extensively about Neutra and his design philosophy in his book Richard Neutra and the Search for Modern Architecture, the pool pavilion was the first thing to be completed on the property, and the eccentric architect would often enjoy “critiquing the rest of the construction while splashing and floating in the water.”

Fitting, then, that the pool is the main subject of photographer Aarons’s iconic image, which depicts two women in midriff-baring outfits enjoying a chat at the far end of the pool, the home and the desert mountains visible in the background. Over the years, the picture has been re-created and reprinted on everything from tote bags to posters.

 

This article was originally featured in Architectural Digest.

In Palm Springs, Neutra’s famed Kaufmann Desert House aims for 5 million


Set on two acres with the San Jacinto Mountains as the backdrop, the Midcentury gem holds five bedrooms and six bathrooms in 3,162 square feet.

(Daniel Solomon)

In Southern California, a select group of homes are so iconic that their names are more recognizable than the stars that inhabit them. The Stahl House in Hollywood Hills. The Gamble House in Pasadena. The Greystone Mansion in Beverly Hills.

A few hours outside of L.A. in the resort city of Palm Springs, another property holds this rare distinction: Richard Neutra’s Kaufmann Desert House. The legendary home — a Midcentury marvel cemented in history through famous photographs — is up for grabs at 5 million.

Set on more than two acres, the home dates back to 1946, when it was commissioned by department store tycoon Edgar J. Kaufmann — the same man who commissioned Frank Lloyd Wright to build the dazzling Fallingwater in rural Pennsylvania.

A year after being finished, the Palm Springs house grew to fame through Julius Shulman’s famous black-and-white photograph depicting its sleek exterior with the towering San Jacinto Mountains as the backdrop. A few decades later, it once again made its mark as the setting for Slim Aarons’ noteworthy shot known as “Poolside Gossip.”

The Kaufmann House has lured a few celebrity owners over the years, including singer Barry Manilow and former Chargers owner Gene Klein. The home itself, not its owners, is the main claim to fame; when The Times surveyed a group of experts in 2008 to crown the best houses of all time in L.A., the Kaufman House made the list despite not even being located in Los Angeles County.

Considered one of the most important Midcentury homes ever built, it recently received a facelift thanks to an intense five-year restoration from Marmol Radziner detailed by Dwell. Today, the low-slung abode holds five bedrooms and six bathrooms across 3,162 square feet.

A stunning concoction of glass, stone and steel, the home is made up of several wings that meet at the center. The floor plan emphasizes indoor-outdoor living, as almost every room opens to a scenic outdoor space.

Highlights include a living room with a floor-to-ceiling fireplace, a lounge with a bar and a spacious wood deck overlooking the property. Outside, a grassy yard surrounds a swimming pool.

If it sells for anywhere close to 5 million, it would be the biggest home sale in Palm Springs history. The current record belongs to the Bob Hope estate, a Modernist masterpiece that sold for 3 million in 2016.

Gerard Bisignano of Vista Sotheby’s International Realty holds the listing.

 

This article was originally featured in the Los Angeles Times.

Famed Kaufmann House in Palm Springs on market for 5M


The iconic Kaufmann House in Palm Springs, designed by Richard Neutra and made internationally famous in Slim Aarons’ “Poolside Gossip” photograph, is on the market for 5 million.

The listing for the home says it’s “an investment in one of the world’s most important treasures of modernism.”

Built in the late 1940s of metal, glass, and Utah stone, the Kaufmann House exemplifies indoor-outdoor living with a roofed, open-air patio space and an outdoor space known as the Gloriette room that offers one-of-a-kind views of the adjacent San Jacinto Mountains.

 

More: Modernism Week fall preview is here. 5 virtual events not to miss

The asking price would set a record for Palm Springs residential real estate, even compared to other architectural gems: The Bob Hope house, designed by John Lautner, sold for 3 million in 2016 after being listed with an asking price of 0 million, while Lautner’s Arthur Elrod house sold for .7 million earlier that year.

The priciest sale on record in the Coachella Valley was Larry Ellison’s Porcupine Creek estate in Rancho Mirage, for which he paid 2.9 million in 2011 and now plans to turn into an exclusive six-start resort.

The remarkable design of the Kaufmann House is just as famous as its history.

Neutra designed and constructed the property in the late 1940s for department store magnate Edgar Kaufmann, who had previously commissioned Frank Lloyd Wright to design his southwestern Pennsylvania vacation home Fallingwater.

Prior owners include Barry Manilow, and Nelda Linsk, who is featured in Aarons’ iconic “Poolside Gossip” photograph from 1970. The home has also been captured by famed architecture photographer Julius Shulman.

Real estate agent Gerard Bisignano of Vista Sotheby’s said Brent Harris has owned the home since the early 1990s.

“It has been a true passion and labor of love for him and all involved,” Bisignano said. “He’s enjoyed the home and he just feels it’s time to pass it on to another guardian.”

Harris and his then-wife Beth oversaw the home’s restoration after they purchased it with design firm Marmol Radziner, which involved undoing additions and repairing the floors to bring the home back to its original look. Shulman came back to shoot the home once it was complete.

The property also underwent a .5 million restoration about 10 years ago to bring it up to more current standards.

As an agent who specializes in architecturally significant homes, Bisignano said “it’s an honor” to handle the listing.

“You walk in, and it’s magical,” he said.

 

 

This article was originally featured in the Desert Sun.

Manhattan Beach home of former UCLA football coach Jim Mora hits the market


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Former UCLA football coach Jim Mora has tossed his Manhattan Beach home onto the market for 1.995 million.

The custom home in the beach city’s Hill Section was designed by Hermosa Beach-based firm Starr Design Group.

A gated courtyard marks the entrance to the six-bedroom, 6.5-bathroom house. Inside, the home has riffs on contemporary and Balinese styling — rich mahogany frames bands of floor-to-ceiling windows and clerestories. The dark woodwork is repeated on the ceilings as well as the exterior gates and louvered screen.

 

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The roughly 5,200-square-foot floor plan was designed so that the chef’s kitchen sits above the living room. A 16-foot island topped with sea pearl quartz anchors the kitchen space, while booth seating was built into the upper lip of the tiered design. An ocean-view family room sits off the kitchen area.

Set on a roomy 9,000-square-foot lot, the property has a built-in barbecue, patio space, lawn and a swimming pool with a spa. A two-story guest house fills a back corner of the yard, which is naturally screened with tall bamboo and landscaping.

Mora, the son of longtime NFL and college coach Jim E. Mora, compiled a 46-30 record as head coach of the UCLA football program, leading the team to bowl appearances on four occasions as well as a Pac-12 South Division title in 2012. He was fired by the school midway through the 2017 season after his third consecutive loss to crosstown rival USC.

More recently, he has worked as a college football analyst for ESPN.

Jennifer Caras of Vista Sotheby’s International Realty holds the listing.

 

 

This article was originally featured in the Los Angeles Times.

Signs of Recovery? U.S. Business Activity and Home Sales Surge


(Reuters) – In signs an economic recovery may be picking up speed, U.S. home sales rose at a record rate for a second straight month in July, and purchasing managers in both the manufacturing and services sectors report business activity has accelerated at a brisker-than-expected pace this month.

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With mortgage rates holding near record lows and a work-from-home trend apparently enticing many Americans to move further from city centers, the National Association of Realtors said on Friday sales of existing homes rose 24.7% to a seasonally adjusted annual rate of 5.86 million units last month from 4.7 million in June.

Home prices also shot to a record 04,100, and a shortage of inventory is making competition for houses fierce. The average time on the market fell to 22 days in July, a record low, from 24 in June, and nearly 70% sold in less than a month.

Combined with June’s 20.2% gain, home sales have mushroomed by nearly 50% in two months to fully retrace the cratering in residential real estate activity in the spring after the COVID-19 pandemic started spreading across the country. July’s sales rate was the fastest since December 2006, when the country was in the latter stages of the sub-prime mortgage housing boom.

“The housing market is well past the recovery phase and is now booming with higher home sales compared to the pre-pandemic days,” said Lawrence Yun, NAR’s chief economist. “With the sizable shift in remote work, current homeowners are looking for larger homes and this will lead to a secondary level of demand even into 2021.”

Graphic: Existing home sales here

Economists polled by Reuters had forecast sales rising 14.7% to a rate of 5.38 million units in July. Existing home sales, which make up about 85% of U.S. home sales, rose in all four regions and were up 8.7% nationally from a year earlier.

The 30-year fixed mortgage rate is at an average of 2.99%, hovering near levels last seen in the early 1970s, according to data from mortgage finance agency Freddie Mac. Data earlier this week showed homebuilding accelerating by the most in nearly four years in July.

Housing has been a bright spot in the economy even as other sectors suffer amid widespread coronavirus infections that have slowed commerce and kept unemployment high. More than 28 million people were collecting jobless benefits under all programs at the end of July.

The pandemic tipped the economy into recession in February, ending a record-long expansion that had brought U.S. unemployment to a 50-year low.

BACK TO BUSINESS?

Meanwhile, a purchasing managers’ survey showed U.S. business activity snapped back to the highest since early 2019 in August as companies in both the manufacturing and services sectors saw a resurgence in new orders even as new COVID-19 cases remain stubbornly high across the country.

Data firm IHS Markit said its flash U.S. Composite PMI Index rose to a reading of 54.7 this month – the highest since February 2019 – from 50.3 in July. Its flash – or preliminary – indicator for the manufacturing sector stood at its highest since January 2019 and for the services sector it was the highest since March 2019.

A reading above 50 indicates growth in private sector output.

“Driving the overall upturn in output was stronger client demand,” Markit said in its report. “Total new business rose for the first time since February and at a solid rate. Manufacturing firms registered a steeper expansion in new order inflows than in July, while service providers signaled a renewed increase in sales.”

The survey’s flash composite new orders index climbed to 54 in August – the highest since March 2019 – from a final reading of 49.7 in July. Foreign sales increased at the fastest rate since September 2014, it said, as more non-U.S. markets reopened their economies.

The improvement in the PMI and home sales data comes even as U.S. coronavirus infections continue to climb, and some authorities in the hard-hit South and West regions this summer have been forced to either shut down businesses again or pause reopenings. As of Aug. 20, more than 5.5 million U.S. cases cumulatively had been recorded since the pandemic began, according to a Reuters tally, up from around 4.6 million at the end of July.

The unexpectedly sharp increases in Markit’s indexes and home sales continue a pattern of choppy U.S. economic data that paint a picture of a fitful recovery from the COVID-19 recession, with pockets of both strength and weakness dotted across disparate portions of the economy and regions.

On Thursday, for instance, the U.S. Labor Department reported that new claims for unemployment benefits shot back above the 1 million mark last week. Meanwhile, earlier in the week the government reported residential construction had accelerated by the most since October 2016 last month.

This article was originally featured on News Break

Los Angeles’s Luxury Real Estate Market Might Be Covid-19 Proof


In late June, Lillian Lim, an independent developer whose company Sea Society LLC buys and renovates homes, listed a 2,400-square-foot craftsman-style home a short walk from the Larchmont Village neighborhood of Los Angeles.

She’d bought it for .5 million in 2019 and done extensive renovations; within a week of listing it for .495 million, she had a firm offer. Soon after, a second, all-cash offer above ask came through, and now the house is in escrow.

“I was nervous, but by the time it was ready to hit the market, there was an indication that people were still buying,” Lim says. “My main motivation was to get it out there by end of June, so I could be one of the first houses back on the market. My real fear was being late.”

The Los Angeles luxury real estate market, which briefly threatened to implode with the onset of Covid-19, is back in full swing.

 

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This 12,500-square-foot home in Beverly Hills is listed for 4.5 million with Douglas Elliman. Photographer: Nick Springett

 

“Even through May, the luxury market was really under pressure,” says Jonathan Woloshin, head of U.S. real estate at UBS Global Wealth Management’s Chief Investment Office. But the June data held a surprise: In Los Angeles county, the number of contracts signed for homes over million was up 34% year over year. “And that was after May,” Woloshin says, “which was down 48.5%.”

June Rebound

The beginning of 2020 was auspicious for the luxury real estate market in Los Angeles. Before March, median luxury prices were up 4.8% from the quarter before, Elliman reported.

“Los Angeles has pivoted sharply into luxury, more than any market I track,” says Jonathan Miller, the president and chief executive officer of Miller Samuel Inc., an appraiser that prepares the Elliman reports.

 

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The house was built in 2005 and has six bedrooms. Photographer: Nick Springett

 

But when the city’s shutdown eliminated showings, not to mention entertainment industry jobs that provide sizable incomes to tens of thousands of city residents, the luxury market entered the equivalent of a black hole. “During a lockdown, there’s no price discovery,” says Miller. “People aren’t going in and out of homes,” which is why, he continues, “we saw a 43.5% drop in [second-quarter] 2019 to [second-quarter] 2020 sales.”

When Los Angeles reopened, Miller says, “there was a release of pent-up demand, with surprising strength.”

 

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A 5,200-square-foot home in “The Bird Streets,” an area above Sunset Strip, is listed at .485 million. Photographer: Roy Gilbert for Sotheby’s International Realty

 

Other cities have bounced back, too. In the third week of July, 155 contracts were signed in Manhattan, according to a market report from UrbanDigs, nearly double the number of contracts signed the week before. Even so, “it should still be noted that the figure is still lower for the year (-15% compared to 2019).” the report reads.

One reason for the disparity, Woloshin suggests, is that New Yorkers are trying to leave the city, whereas L.A. residents are looking for houses in which they can hunker down for the long haul. “You’re seeing some strength in Westchester, Connecticut, and Long Island,” he says. “People want to get out of the city.”

 

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A 5,200-square-foot home in “The Bird Streets,” an area above Sunset Strip, is listed at .485 million. Photographer: Roy Gilbert for Sotheby’s International Realty

“Is New York as robust as California?” asks Woloshin rhetorically. “No.”

To its proponents, the strength of L.A.’s rebound indicates a market that just won’t quit. “Over the past five years, Los Angeles has become more of an international destination because of the lifestyle it affords clients,” Blankenship says. “Now more than ever, quality of life is important to people.”

 

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A 3,645-square-foot home in Malibu, located at 20990 Las Flores Mesa Drive, is available for .875 million. Photographer: Jason Christopher for Sotheby’s International Realty

Connie Blankenship, a director of estates at Douglas Elliman, has been able to work straight through. “I’ve basically sold two properties within the period. I have one in escrow now, another about to go in escrow, and a buyer who’s made offers multiple times.” Prices for the properties, she says, range from million to 0 million. “I don’t want to say there has not been a disruption,” she says. “For most people, there has. But it’s been a case-by-case basis.”

Joe Cilic, a founding partner of Cilic Group at Sotheby’s International Realty, says he and his team have seven transactions scheduled to close in July. “To put that in perspective: The rest of the year combined, I had five. So the market has picked up considerably.”

 

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Set on 1.7 acres, the house has ocean views. Photographer: Jason Christopher for Sotheby’s International Realty

Most of Cilic’s seven properties had contracts signed within the last 30 days, ranging from about .5 million to .5 million. “People want their pool; having space between them and their neighbors and having more land is more desirable,” Cilic says. “Clients are less concerned with the size of the house as they are [with] the size of the lot.”

Market Headwinds

But it’s not all blue skies. “So much is dependent on what happens with the virus,” Woloshin says. “Am I calling for an implosion in home prices? Absolutely not. But,” he continues, “there are certain parts of the market that could be vulnerable to price decline.”

 

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A .349 million house in Venice, Calif. Source: Sotheby’s International Realty

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The four-bedroom home has a private office on the third floor, which is connected to a rooftop deck. Source: Sotheby’s International Realty

Among L.A. market headwinds is what Woloshin calls “the affordability issue,” meaning that wage increases haven’t kept pace with a rise in housing prices. A ballot measure to be decided in November called Proposition 19 would make it more expensive for family members to transfer primary residences to one another, among other changes.

Plus, there’s an absence of international buyers, who “aren’t coming back anytime soon.”

But, Woloshin says, any bears should remember that California “has an outright shortage of shelter, both for rent and purchase. And that’s going to give some price support” to the market. “We are in uncharted waters,” he says.

 

This article was originally featured on Bloomberg.

Pittsburgh DoubleTree Wraps Up Multimillion-Dollar Renovation


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Integrated Capital, a Los Angeles-based, private real estate advisory and investment firm, completed a multimillion-dollar renovation of the 140-room DoubleTree by Hilton Hotel Pittsburgh – Meadow Lands. The hotel is operated by Hospitality Ventures Management Group, a private hotel investment, ownership and management company, on behalf of Integrated Capital.

“Though construction materials are much harder to come by during the pandemic, we were able to complete this hotel refresh on-time and on-budget,” said Kenneth Fearn, managing partner, Integrated Capital. “The newly renovated hotel is better positioned to attract business and leisure guests who are ready to resume travel in a cautious manner. In addition to multiple guest room enhancements, we also have implemented HVMG’s new Trust & Preparedness initiative, a comprehensive, guest and associate safety and sanitation program designed specifically to create a welcoming and secure environment.”

The refurbishment focused on guestrooms and hallways. All rooms received new softgoods, including bedding, bed upgrades from double-double to queen-queen and new televisions. The hotel’s Wi-Fi infrastructure also was improved and now provides the “fastest-in-the-market” connectivity available. Additional improvements include exterior painting and lighting upgrades.

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“With the completion of the upgrades, the hotel has achieved ‘like-new’ status, now exceeding what the marketplace has had to offer in terms of guest rooms and amenities,” said Robert Cole, president and CEO, HVMG. “We continue to take great steps to not only improve the hotel physically, but to ensure that guests can feel assured of the level of cleanliness throughout the property and in their rooms. We are confident the hotel quickly will become a market leader.”

Located at 340 Racetrack Road just off I-79, the six-story hotel is adjacent to the Meadows Racetrack & Casino and less than a mile from Tanger Outlets, both of which are accessible by the hotel’s complimentary shuttle service. The hotel offers an outdoor pool, a fitness center, approximately 13,000 square feet of meeting space and two dining establishments.

Roessler Estate in Palos Verdes Estates Lists for 9.5 Million


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In Palos Verdes Estates, a Spanish Revival-style home built for Fred Roessler, the city’s first mayor, is on the market for 9.5 million.

Roessler was instrumental in the efforts to incorporate Palos Verdes Estates, which was established as a subdivision in the early 1920s before its incorporation as a city in 1939. A chemist and veteran of World War I, he served as the city’s mayor from 1940 until his death in 1965 at 71.

Originally built in the 1920s and reconstructed in 2006, the landmark property crowns a 3.17-acre hilltop, allowing for ocean views from nearly every room.

Arched windows, stenciled beams and grand fireplace mantles are among details of the roughly 13,000-square-foot home. The kitchen is outfitted with dual islands and a range built into a massive stone hearth. Artistic barrel-rolled ceilings top the home theater, which has tiered seating.

Other features include an elevator, a wine room, a dry sauna and a steam room. Including a two-bedroom guesthouse, there are seven bedrooms and 15 bathrooms.

Outside, steps lined with colorful tile risers descend to a swimming pool and spa. A tennis court, a putting green, a barbecue pavilion, lawn and mature trees fill out the grounds.

The property originally came up for sale last year at 7.5 million, according to the Multiple Listing Service. It has changed hands just twice in the last three decades, selling in 1987 for .5 million and in 2000 for .9 million, records show.

Chris Adlam of Vista Sotheby’s International Realty holds the listing.

 

This article was originally featured on Daily Magazine.

Look Inside the Beverly Hills Compound LeBron James Is Reportedly Buying


NBA superstar LeBron James has apparently added to his Los Angeles–area real estate holdings with the purchase of a storied Beverly Hills mansion.

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NBA superstar LeBron James has apparently expanded his Los Angeles–area real estate portfolio with the purported purchase of a storied Beverly Hills mansion, according to the Real Deal.

The news comes just a month after an unfounded rumor—debunked by the Los Angeles Times—that the hoops great had picked up a 2 million mansion in L.A. Clearly, there’s plenty of interest in where James will rest his famous head.

If the Beverly Hills purchase is, in fact, for real, “King James” would be buying a home from Hollywood royalty. The residence belonged to Lee Phillip Bell, co-creator of the popular and long-running soap operas “The Young and the Restless” and “The Bold and the Beautiful.”

The daytime TV titan died in February at the age of 91. In addition to this 90210 home, Bell’s Malibu estate landed on the market in April for 1.5 million. It was recently sold for 8,275,000.

But let’s turn back to the King. Here’s what we know about James and his giant homes.

The Mediterranean mansion offers incredible perks

The 2.5-acre property is situated on a promontory. A long driveway opens to a motor court and courtyard, and the compound features views of downtown Los Angeles, the ocean, and the Santa Monica Mountains.

Built in 1934, the estate has four bedrooms, eight bathrooms, and 9,146 square feet of living space. It features two bedroom suites, multiple entertaining areas, and seven fireplaces. The property also comes with a screening room, pool, and pool house with two bathrooms.

“It makes great sense LeBron would add this Beverly Hills mansion, just east off of his Brentwood home, to his portfolio,” says real estate agent Michelle Oliver with Douglas Elliman. Oliver isn’t connected to the purchase, but is an area expert.

The property comes with elements that appeal to wealthy buyers, says Oliver, citing the lighted tennis court, two detached guesthouses, a large motor court, as well as the superb views.

“This property has a lot of upside potential as well for someone as real estate–savvy as LeBron,” she continues. “Maybe he’ll trick out one of the guesthouses into a state-of-the-art indoor-outdoor gym like he did in his previous house.”

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A pretty penny

Property records show the estate was last sold in 1986 for .9 million. The residence then came on the market last month for a hefty 9 million. The listing is still available at that price, so it’s not clear what—or if—James shelled out to snag the mansion.

For the sake of comparison, there are some slightly less expensive options if he appreciates the neighborhood. A nearby contemporary comes with less land but luxury galore, including a pool, wine wall, gym, home theater, and motor court, for 8 million. Another brand-new build in the area offers an open floor plan and indoor-outdoor living for 8.7 million.

James already owns homes in nearby Brentwood

The Los Angeles Lakers star doesn’t shy away from splashy purchases. This would be the third home in the Los Angeles area that he’s acquired. In 2015, the three-time NBA champion picked up a prize property in upscale Brentwood for 1 million. The 9,400-square-foot custom abode comes with six bedrooms, a pool, cabana, and verandas for dining and lounging.

That purchase sparked a wave of rumors—which came true—that the then-Cleveland Cavalier was eyeing the West Coast for his next big basketball move.

His second acquisition, also in Brentwood, came at the end of 2017, for a cool 3 million. The land grab seemed to further confirm James’ intentions. The brand-new build has eight bedrooms, and features a living area with sliding glass doors. Luxe delights include a 1,500-bottle wine cellar, home theater, spacious kitchen, gym, wine and cigar lounge, and bar. The grounds boast marble patios, an outdoor kitchen with a built-in barbecue, and oversize pool.

Why buy?

While these two Brentwood homes are seriously sweet pads, this latest acquisition is definitely fit for the King.

“First of all, it’s very private,” says local expert Sally Forster Jones, executive director of luxury estates for Compass and president of the Sally Forster Jones Group. “That would work for someone like LeBron James.”

And with the pandemic showing no signs of abating, this property offers some hard-to-find features that appeal to a megawatt star with millions at his disposal

“It’s like a private resort, where you don’t have to leave at all to go anywhere,” says Jones. This is an ideal perk for the basketball legend when he returns from the NBA’s makeshift bubble in Orlando, FL.

The acreage makes this property particularly valuable, adds Jones. “It’s very hard to find 2.5 acres in this area.”

Despite the home’s large lot and privacy, the commercial district of Beverly Hills is easily accessible.

“It’s close to everything but still far enough away so you have the privacy and you have the land,” she adds.

In fact, the property in one of the country’s most exclusive ZIP codes is something of a hat trick.

“It’s very hard to get … land and views and privacy. All three of those things as a combination are very difficult to get,” she says.

Jeff Hyland and Rick Hilton with Hilton & Hyland hold the listing.

The post Look Inside the Beverly Hills Compound LeBron James Is Reportedly Buying appeared first on Real Estate News & Insights | realtor.com®.

 

This article was originally featured on Midland Daily News.

Top Sales: May Brings Cooling to L.A.’s High-end Market


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The modern Beverly Crest mansion, designed by architect Jay Vanos, sold to a limited liability company tied to Top Dawg Entertainment founder Anthony Tiffith. Eye-catching from top to bottom, the 13,100-square-foot showplace on Bowmont Drive features white marble slabs, a golf simulator and spa facilities that include a Turkish bath. (Marc Angeles / Unlimited Style Real Estate Photography)  (Marc Angeles/Unlimited Style Real Estate Photo)

 

Despite two sales above 0 million, L.A. County’s high-end market showed signs of cooling during May. Homes selling at a discount were a common theme for L.A.’s priciest deals, with all the top properties trading for significantly less than the original asking price. Here’s a larger look.

Beverly Hills — 3.5 million

In a deal between two limited liability companies, a newly built mansion on North Bedford Drive traded for million less than the asking price of 1.5 million.

The Georgian-inspired home by architect Richard Manion originally sought as much as 6.5 million when it first came to market last year.

Walnut cabinetry, starburst-patterned marble floors and a dining room ceiling embellished with silver leaf are among features of note. The six-bedroom, 10-bathroom floor plan has a formal living room with an adjacent bar, a chef’s kitchen with two islands, a theater, a wine cellar and a gym.

A swimming pool and one-bedroom pool house also lie on just over half an acre of landscaped grounds.

Linda May and Drew Fenton of Hilton & Hyland were the listing agents. Dustin Nicholas of Nicholas Property Group represented the buyer.

Malibu — 1.5 million

On Pacific Coast Highway, a modern Mediterranean-style home changed hands for about .5 million less than the asking price of 9.95 million.

Set behind gates on more than an acre, the single-story house was previously owned by Kim Lubell, who co-founded the True Religion denim brand. Lubell sold the house in 2015 for 8.45 million after asking as much as 6.5 million for the property.

Built in 2001, the five-bedroom, six-bathroom house features a U-shaped design that surrounds a courtyard entry. Inside, there are cathedral-style ceilings with distressed beams, hand-plastered walls, a chef’s kitchen and an office. Three stone fireplaces were imported from Europe.

Outside, ocean views create a backdrop for a putting green, sports court and swimming pool. A private stairway leads from the property to Malibu Road.

Christopher Cortazzo of Compass was the listing agent. Jonathan Nash of Hilton & Hyland represented the buyer, a limited liability company.

Beverly Crest — 1 million

A corporate entity tied to Top Dawg Entertainment founder Anthony Tiffith, who represents some of the biggest names in hip-hop, paid about million less than the asking price for a newly built home on Bowmont Drive.

The 13,100-square-foot showplace, which was completed this year, sits on two-thirds of an acre, with views extending from Century City to the coastline.

Designed by architect Jay Vanos, the three-story house dazzles with white marble slabs, walls of glass and modern chandeliers. A living room with 26-foot-high ceilings, a game room with a golf simulator, a home theater and a Turkish bath are among features of note. There are seven bedrooms and 9.5 bathrooms, including a corner master suite.

Stephen Apelian and Joyce Rey of Coldwell Banker were the listing agents. Ugene Dozier of Vista Sotheby’s International Realty represented the buyer.

Beverly Crest — 0.45 million

On Clear View Drive, a contemporary-style home that was built last year sold to Edward and Emily Greenspan, art collectors and owners of consulting and advisory firm Tag Arts, for about 50,000 million less than the asking price.

Originally listed in December for about 5 million, the multilevel house saw its price slashed to about 1 million in late March as stay-at-home restrictions were placed on Californians due to the coronavirus.

A glass walkway crosses a reflecting pool to reach the house, which has five bedrooms, eight bathrooms and nearly 8,800 square feet. Inside, the open-concept floor plan has pocketing doors that connect indoor-outdoor spaces, a 1,500-bottle wine cellar and a lounge with a bar.

Decking surrounds an infinity-edge swimming pool and spa in the backyard. A subterranean garage lies below.

Ginger Glass of Compass represented both buyer and seller in the deal.

This article was originally featured on Yahoo! Finance