SELLER: Sturmer Pippin Investments
LOCATION: Los Angeles, CA
PRICE: $180,000,000
SIZE: (approx.) 10 acres with 12,200-square-foot residence and extensive leisure complex

YOUR MAMA’S NOTES: Buckle your real estate safety belts because just 10 months after the historic Owlwood Estate in Los Angeles sold for a brain blistering $90,00,000 — at the time the second largest sale ever in Los Angeles County — the legendary Sunset Boulevard spread will officially return to the market on the first of August with a pearl-clutching price tag of $180 million.

The sprawling, approximately ten-acre estate currently has one existing residence, an ornately articulated Italian Renaissance villa designed by illustrious architect Robert D. Farquhar and built in 1936 for Florence Letts Quinn, ex-wife of department store magnate Arthur Letts, Junior. Subsequent owners of the conspicuously opulent 12,200-square-foot mansion include hotelier Joseph Drown, business partner of Conrad Hilton, 20^th Century Fox founder Joseph Schenck, oil tycoon William Keck, and actor Tony Curtis who sold the house in 1974 for about $750,000 to iconic music duo Sonny and Cher. The mansion eventually came into the hands of a wealthy carpet mogul and later a shadowy Syrian businessman before it was acquired in 2002 for an undisclosed amount by late subprime mortgage mogul Roland Arnell and his wife Dawn Arnell.