14Jul

New Gated Enclave to Rise in Malibu After $50-Million Land Deal

By Neal J. Leitereg

Originally Published by LA Times

The sale of a storied Los Feliz estate and a $50-million exchange in sunny Malibu were among L.A. County’s priciest real estate transactions in June.

$50 million — Malibu

The Crummer Estate, an undeveloped, 24-acre property on Pacific Coast Highway, sold in Malibu’s third priciest deal of the year to speculative developer and Unvarnished founder Scott Gillen. It had been listed for $60 million, records show.

Set on a bluff overlooking Malibu Colony, the plateau is surrounded by 360-degree mountain and ocean views. Gillen intends to work with architect Richard Landry to created a new gated enclave consisting of five single-family homes.

Homes in the enclave, dubbed “The Case,” will range from 10,500 square feet to 13,500 square feet, with lot sizes ranging from 2.45 to 5.78 acres. Landry, whose projects include some of L.A.’s largest modern mansions, previously designed layouts for each of the individual houses as well as the viewing corridors.

Sandro Dazzan of Coldwell Banker Residential Brokerage represented Gillen in the sale. Rick Hilton and Rodrigo Iglesias of Hilton & Hyland, an affiliate of Christie’s International Real Estate, represented the seller, an entity managed by Oaktree Capital and Big Rock Partners.

$22.25 million — Beverly Park

High-end developer Cody Leibel paid $4.845 million less than the asking price for the onetime Beverly Park home of actress-musician Reba McEntire.

Outdoors, a 2,000-square-foot pavilion with wood-vaulted ceilings, a secondary kitchen and large common area sits next to the swimming pool. A spa, a lighted tennis court, lawns and mature trees also lie within about 2 acres of grounds.

Mauricio Umansky and Farrah Aldjufrie of the Agency were the listing agents. Drew Fenton and Justin P. Huchel of Hilton & Hyland, an affiliate of Christie’s International Real Estate, represented Leibel.

$24.5 million — Los Feliz

The onetime home of early filmmaker Cecil B. DeMille sold in the gated Laughlin Park community to Oscar-winning actress Angelina Jolie for $450,000 less than the asking price. It had been listed for $24.95 million, records show.

The 2-plus-acre compound was home to DeMille for roughly 40 years and, after his passing in 1959, maintained by the movie mogul’s family for another three decades.

Surrounded by gardens, specimen trees and sitting areas, the estate centers on a classical-style main house with six bedrooms and 10 bathrooms in 11,000 square feet of living space. Also within the grounds are a swimming pool, a pool house and a guesthouse with a separate entrance.

Brett Lawyer and Rayni Williams of Hilton & Hyland, an affiliate of Christie’s International Real Estate, were the listing agents.

$20 million — Century City

In one of L.A.’s priciest condominium sales of the year, a full-floor penthouse at the Century changed hands for a little more than $2,146 per square foot.

Found on the 40th floor of the Robert A.M. Stern-designed building, the unit features floor-to-ceiling windows, a living room with two fireplaces and a center-island kitchen. The formal dining room has seating for 25 guests.

The open-space master suite has multiple sitting areas and a lavish bath for a total of four bedrooms, 7.25 bathrooms and a powder room.

Views from the residence extend from downtown L.A. to the Santa Monica Mountains to the ocean.

The property had been listed for $26.5 million before the sale, records show.

Bachir Oueida of Douglas Elliman was the listing agent. Greg Holcomb of Partners Trust Beverly Hills represented the buyer, a blind trust.

$18 million — Malibu

Jonathan Dolgen, former head of Paramount Pictures, sold his home on Malibu Colony Road to film director Chris Columbus of “Home Alone” and “Mrs. Doubtfire” for $500,000 less than the asking price of $18.5 million.

The English traditional-style home sits along a 48-foot stretch of sand in gated Malibu Colony and has coastline and open-water views.

A brick courtyard leads to the entrance of the house, which has a great room, a chef’s kitchen, a step-down wine cellar and a screening room in 6,343 square feet of space. Including the guesthouse, there are five bedrooms and six bathrooms.

Outdoors, steps lead to a spa that sits level with a wide swath of decking. Transparent guardrails take in the surf and surrounding beachfront.

Jack Friedkin and Leonard Rabinowitz of the Agency were the listing agents. Christopher Cortazzo of Coldwell Banker Residential Brokerage represented the buyer.

Pictures by Berlyn Photography.

New Gated Enclave to Rise in Malibu After $50-Million Land Deal

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