America’s Most Expensive Megamansion Gets $100 Million Price Cut The Los Angeles spec home, with a helipad, three kitchens and a bowling alley, is now asking $150 million
The palatial Bel Air spec home that once reigned as the most expensive listing in the U.S. when it was asking a quarter of a billion dollars, will return to the market for a full $100 million less.
The four-story glass block that developer Bruce Makowsky built and fitted with opulent flourishes, such as a helipad and four-lane Louis Vuitton-branded bowling alley, is now available for $150 million, the developer said in a statement on Monday. It’s the second time he’s cut the price on the spec home, marketed as the developer’s "greatest masterpiece," which was last asking $188 million.
The contemporary megamansion hit the market two years ago, and since then, several smaller homes in Los Angeles have sold for close-to or north of $100 million. In April, Hard Rock Cafe co-founder Peter Morton sold his 8,000-foot Malibu beach house with some serious architectural cachet for a record-breaking $110 million.
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A little over a year ago, luxury real estate agent Kurt Rappaport sold a home in Malibu for $85 million and all its contents for $35 million, for a total of $120 million.
But the world’s ultra wealthy haven’t shown a willingness to spend the same kind of money on a home that they do on things like megayachts or private jets.
"Today’s billionaire and mega wealthy homebuyer just isn’t ready to spend $200 million on a home at this current place in time so we’ve relisted it with a price tag that will open the door to a significantly larger audience," he said. Recent turbulence in global financial markets has also moved the developer to reassess his price, he added.
"I’ve adjusted the price to what I believe is today’s market value for the home," he said.
While it’s no longer the most expensive home on the market in the U.S. or even in Los Angeles, the amenity-rich spec home would still shatter the price record if it sold anywhere close to $150 million. The most expensive home for sale at the moment in La La Land is the estate of the late billion Jerry Perenchio, also in Bel Air, listed for $245 million.
Mr. Makowsky made sure the 38,000-square-foot new build checked all the boxes for luxury amenities.
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Beside the bowling alley is a candy wall and game room with not one but four foosball tables. There’s a 40-seat home theater, underground car gallery and two contemporary wine cellars (already stocked with vino and Champagne).
There are also 12 bedrooms, including two separate master suites, 21 bathrooms and a curated collection of 100 works of art.
Outside, a pop-up theater provides entertainment al fresco, as does the 85-foot glass tile pool.
The listing agents on the home include Shawn Elliott of Nest Seekers, and Rayni and Branden Williams of Hilton & Hyland.
Former Disney President Michael Ovitz Flipping Manhattan Condo for $25 Million
The co-founder of Creative Artists Agency bought the unit for $22 million from Jon Bon Jovi over five months ago
Michael Ovitz, former Disney president and co-founder of Creative Artists Agency, is trying to flip an apartment for a potential $3 million profit.
Mr. Ovitz, who served as president of The Walt Disney Company under chairman Michael Eisner from 1995-97 after resigning from Creative Artists Agency, a talent and sports agency he co-founded in 1975 in Los Angeles, bought the 4,000-square-foot condo unit in June for $22 million all cash via a limited liability company from an entity tied to rock star Jon Bon Jovi, records accessed on PropertyShark show.
Located in The Greenwich Lane, a collection of condos and townhouses built on the site of former St. Vincent’s Hospital, the apartment has four bedrooms, three full bathrooms and one partial bathroom, according to the listing posted last week by the De Niro team of Douglas Elliman.
The team’s lead, Raphael De Niro, who is a son of actor Robert De Niro and actress Diahnne Abbott, did not immediately respond to a request for comment.
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Accessed from a private elevator, the home features an entrance gallery that leads to a great room with three sets of glass doors opening onto Juliette balconies, according to the listing.
The living room and the eat-in kitchen are divided by a balcony, while the primary suite occupies its own wing with a marble bathroom, a free-standing tub and radiant heated floors, the listing said.
Communal amenities include a full fitness and wellness level managed by La Palestra with a gym, a yoga studio, a swimming pool with a hot tub, a golf simulator and a 21-seat theater, according to the listing.
Mr. Ovitz, who has been engaged to Tamara Mellon, a British fashion entrepreneur and co-founder of Jimmy Choo, could not be immediately reached for comment.
Dirt first reported the listing.
Tom Petty’s Malibu Beach House Lists for $9.85 Million
‘Many songs were inspired and written while staying there,’ says the late musician’s wife
Tom Petty’s beach house in Malibu, Calif., is coming on the market for $9.85 million, according to listing agent Chris Cortazzo of Compass.
Located on Escondido Beach, the property comprises a cabin-style main house as well as a separate guesthouse that Mr. Petty used as a music studio, Mr. Cortazzo said.
A trust tied to the late musician paid about $6.8 million for the roughly 2,200-square-foot home in 2010, property records show.
Mr. Petty, a three-time Grammy winner known for hits like “American Girl” and “Free Fallin,’” died in 2017 aged 66.
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“Tommy got a lot of inspiration” from the Malibu house, said his wife, Dana Petty, in an email. “He always had his little [tape] recorder and guitar, constantly writing and creating. Many songs were inspired and written while staying there.”
She said one of the songs he wrote at the house was “Something Good Coming,” which includes the line: “I’m watching the water, watching the coast, suddenly I know, what I want the most.”
Mr. Petty loved that “the beach house was pretty much all original, built in 1950, with a cozy cabin feel,” said Ms. Petty, noting that the couple spent a lot of time there with family and friends, ordering takeout from the nearby restaurant Malibu Seafood. She said the property served as their second home; they had another property in Malibu that served as their primary residence.
Tom Petty in 2017.
Starmax/Newscom/ZUMA PressMr. Cortazzo, who also worked on Mr. Petty’s purchase of the property in 2010, said the house was a sanctuary for the musician. Mr. Petty could walk on the beach without being bothered, Mr. Cortazzo said, and build bonfires on the beach with friends in the evenings.
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Known as “Moose Lodge,” the main house is made of wood, brick and stone, Mr. Cortazzo said. It has two bedrooms, including a primary suite with a tiled fireplace, a deck and an en-suite bathroom with ocean views. The open-plan kitchen and living room area has a large fireplace and floor-to-ceiling brick chimneypiece. There is a wood-paneled dining room with library shelving and an antler chandelier. A staircase in the living room leads to a lower-level family and media room.
Outside, an oceanfront deck has steps to the sandy beach. The property also includes a rose garden and an outdoor living and dining area with a barbecue, Mr. Cortazzo said.
The property overlooks Escondido Beach.
Mike HelfrichThe guesthouse is outfitted with recording equipment and a grand piano, Mr. Cortazzo said. On one of the walls hangs a promotional poster for the “Beatles ’65” album, featuring members of the band posing with umbrellas. Mr. Petty was a longtime Beatles fan and teamed up with George Harrison in the folk and country-rock supergroup Traveling Wilburys, along with Bob Dylan, Jeff Lynne and Roy Orbison.
The Malibu market has commanded record sums over the past year, driven in part by low inventory, agents said. A recent report by brokerage Douglas Elliman shows that the median price for a Malibu single-family home increased to $4.775 million in the third quarter of 2022, a 37% increase from the same period last year.
Charlize Theron Selling Another Bungalow in L.A.’s Beverly Grove
The home, listed for nearly $2 million, is the second casita the Oscar-winning actress has sold in neighborhood since 2020
Oscar-winning actress Charlize Theron is ready to part with her longtime Los Angeles bungalow, having launched it onto the market last week for $1.995 million.
Ms. Theron, 47, has owned the Mediterranean-style spread, in the city’s Beverly Grove neighborhood, since 2000, when she snapped it up for a pinch over $519,000 using a trust named after her mother, records with PropertyShark show.
Painted white and with a terracotta-tiled roof, the property is described as a “super light and charming casita,” in the listing with David Gray of Berkshire Hathaway HomeServices California, who, through a representative, declined to comment.
The light-filled home, built in 1925, spans 1,539 square feet and boasts monochromatic interiors with features including hardwood floors, large windows and arched doorways.
An eat-in kitchen is joined by a dining area, a living room with a fireplace and two bedrooms, plus a two-car garage and a bonus room that could be used as an office or a gym, the listing said.
Outside, there are patio areas, a pool and plenty of privacy courtesy of the home’s position tucked away behind gates and tall hedges.
In October 2020, the actress sold a similar Spanish-style bungalow on the same street for $2.26 million, healthily above the $1.89 asking price she’d affixed to it a month earlier.
Ms. Theron’s filmography includes “Monster,” for which she won an Academy Award in 2004, “Mad Max: Fury Road,” “Bombshell” and “Atomic Blonde.” A representative for the star didn’t immediately respond to a request for comment.
Dirt first reported the listing.
Country-Folk Songwriter John Prine’s Nashville Home Lists for Nearly $5 Million
The late musician and his wife helmed several renovations before his death from Covid in 2020
The Nashville home of late country-folk musician John Prine has hit the market for $4.95 million.
Located on more than two acres in the Oak Hill neighborhood, the residence has a “colonial farmhouse vibe” with a double-door entry and a second-floor porch running the length of the facade, according to listing agent Simon Kerr. He and Deirdre Kerr, both of Zeitlin Sotheby’s International Realty, listed the home last week.
“Oak Hill is a prominent area in Nashville,” Mr. Kerr said. “The houses have large estate lots and it’s very private. It’s where a lot of country music stars live.”
Prine, a Grammy-winning singer and songwriter, and his wife, Fiona Whelan, bought the 7,272-square-foot home in March 2018 for $2.6 million, according to records with PropertyShark. They oversaw several renovations to the home, which had been in the same family for more than 20 years before they bought it, property records show.
Changes included updating the main bedroom and bathroom, according to Mr. Kerr. There are four bedrooms in total, as well as five full bathrooms and three powder rooms.
“While they were in Paris, they found these cool Parisian doors from the 1700s and imported and installed them in the primary suite,” he said.
The main bathroom now boasts a claw-foot tub and an extra-large shower with blue-green tiles, and the main suite has two closets that “are bigger than my condo,” Mr. Kerr joked.
John Prine at the 61st Annual Grammy Awards in February 2019.
Getty Images for The Recording Academy“Every time a couple comes in to check out the property, the closets are just a big ‘wow’ factor,” he continued.
The kitchen was renovated in 2019, and now has an island, two sinks and Miele and Sub-Zero appliances, according to the listing. The adjacent dining room has a beverage station, while the main living room boasts floor-to-ceiling windows overlooking the pool.
The couple replaced the existing pool with a heated version with a wading area for their grandchildren, Mr. Kerr said. The area also has an outdoor fireplace and plenty of places to lounge.
“For how spacious [the home] is, it also feels extremely cozy and just homey. Usually homes of that size don’t feel like that,” the agent added.
Other features include hardwood floors, a sweeping wooden staircase, a library with built-in shelving and a fireplace and an upper level family room, according to the listing.
Prine was a singer-songwriter who was discovered in a New York City nightclub by Kris Kristofferson in the early 1970s. A former postman, Prine went on to write critically acclaimed songs such as “Angel From Montgomery” (made famous by Bonnie Raitt), “Sam Stone,” “In Spite of Ourselves” and “I Remember Everything.” His wit and wisdom was widely appreciated in the music community and he won four Grammy Awards, including a Lifetime Achievement Award.
Prine died from Covid-19 in April 2020 at the age of 73.
“John Prine was one of the greatest artists of my life. Knowing him was a blessing,” Mr. Kristofferson said at the time.
@mansionglobal Taylor Swift was just a kid in Pennsylvania before she had us all waiting in the Ticketmaster queue for hours. #swifttok #taylorswift #mansionglobal #realestate #erastour ♬ Taylor Swift style cute song(1245108) - RingoHoshi
Texas Ranch With a Saloon-Themed Party Barn and Two Furnished Houses Heads to Auction
The 20-acre compound is 90 minutes from Dallas and two hours from Austin
A furnished 20-acre Texas ranch compound with a saloon-themed party barn, two single-family houses and 2,000 feet of frontage on the Brazos River is headed to auction without reserve on Nov. 18.
Known as Pecan Bluff on the Brazos River, the Whitney, Texas, property is also listed for sale for nearly $5 million with Susan Klimaszewski, of ExP Realty LLC. It first hit the market in July 2021.
The ranch, which offers three contiguous parcels that are roughly the same size and more than 10,000 square feet of living and entertaining space, is 90 minutes from the Dallas-Fort Worth metro area and two hours from Austin, said Trayor Lesnock, founder and president of Miami-based Platinum Luxury Auctions, which is handling the sale.
Known as Pecan Bluff on the Brazos River, the Whitney, Texas, property is also listed for sale for nearly $5 million.
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Brian McClure, “originally developed it because he’s in the marketing business and wanted to have the ability to have training sessions and bonding and that kind of thing all in one place,” Mr. Lesnock said.
Mr. McClure, who was not immediately available for comment, “has used it very little,” Mr. Lesnock said. “He’s had a few smaller-scale retreats for his company, but he hasn’t had the robust use of it that he originally intended.”
“It’s one of those properties where the videography and photos don’t do it justice,” he said. To reach the ranch, “you’re driving in this remote area, then you turn onto a back road and it’s like the lights from a Disney movie turn on.”
The flat property is dotted with mature oak and pecan trees, and “everything is manicured and immaculate, with a long entryway lined with trees,” Mr. Lesnock said.
The 5,480-square-foot barn functions as a conference center, which the listing describes as “perfect for corporate retreats and events,” and features reclaimed wood throughout, a full-sized antique bar, a dance floor, a DJ booth, a performing stage, two large restaurant-style restrooms, pinball machines and a “really nice commercial-grade kitchen,” Mr. Lesnock said. “He really invested there.”
The 5,480-square-foot barn functions as a conference center.
Platinum Luxury AuctionsWith just a few exceptions, all of the ranch’s furnishings are included, he said.
The two custom homes, which are known as the Creek and River houses, can accommodate more than 15 guests, according to the listing. Combined, they offer six bedrooms, six full bathrooms, two partial bathrooms and two full kitchens.
The 2,650-square-foot Creek House, which overlooks Iron Spring Creek, features open-plan living spaces and a large outdoor entertainment area with a pool and spa, a stone patio, a cabana and a covered outdoor kitchen.
The 2,580-square-foot River House, which overlooks the Brazos River, offers a large, tiered rear deck with a spa and barbecue area that leads down to a fire pit.
The two residential structures date to 1975, Mr. Lesnock said. The owner “took everything down to the studs and rebuilt them in 2013-15.”
Brazos River has multiple walking and biking trails running alongside it and nearby Lake Whitney offers fishing, camping, hiking and biking, according to the listing.