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The Real Deal Los Angeles

TV power couple sells DTLA penthouse at $2M discount

Burt Sugarman and Mary Hart ditched Ritz-Carlton abode for $6.7M

April 25, 2016 02:30PM

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The Ritz-Carlton, Los Angeles (credit: Google Earth)

The Ritz-Carlton, Los Angeles (credit: Google Earth)

Television power couple Burt Sugarman and Mary Hart just sold their gigantic DTLA penthouse for $6.7 million.

The Ritz-Carlton residence sold at a $2.1 million discount to its $8.8 million listing price, but the duo still made a hefty profit. They originally bought the 4,250-square-foot suite for $3.5 million in 2013, Variety reported.

Sugarman is a veteran producer and Hart was the host of “Entertainment Tonight” for 30 years. The power couple’s corner of the high-rise has three bedrooms and comes with the five-star hotel’s perks, including room service, housekeeping and access to the 8,000-square-foot spa.

The Sugarman-Harts now own a $15 million set of units in the Sierra Towers, located between West Hollywood and Beverly Hills. The two units span 6,442 square feet, with five bedrooms, eight bathrooms, and an aerial view of the L.A. skyline and the ocean.

Previously, they owned a Beverly Hills compound that now belongs to a Saudi sheikh. The couple also had several properties in Montana, including a 160-acre multi-residence ranch that was once listed for $26.5 million. [Variety]Cathaleen Chen

  • Alexandre LiMandri

    How come selling a place for almost $1,600/sf is “ditching” it when the average price per sf in the area is $700? This is the biggest sales and best return made on any condo in downtown LA ever. This sale shows that the Downtown market is very strong and we have years to see positive growth ahead. There are 400 + condos closing in October at Metropolis that will completely make the average price per square foot take a huge jump for the better. This spring is the perfect time to purchase anything in Downtown LA before those closing hit the public record. There still some great investments to be made and I’ll recommend to definitely purchase the right place now. http://www.dtlalife.com.

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