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The Real Deal Los Angeles

SOLD: LA’s 10 biggest residential sales of 2016

Spec homes dominated the list in a record year

From left: Tom Cruise’s old mansion on Calle Vista, the Owlwood and the Playboy Mansion

Move over, New York. Los Angeles dominated the list of priciest residential sales in the country in 2016, with estates in tony Holmby Hills nabbing three of the five top slots.

The L.A. estates that sold this year blew 2015 — which saw no sale higher than $60 million — out of the water. In fact, the top two deals of 2016 broke the $100 million ceiling, and sprawling spec mansions dominated the list. 

Read on for a list of the 10 most expensive L.A. properties that sold in 2016, according to MLS and Redfin data analyzed by The Real Deal.

1. North Carolwood Drive, Holmby Hills | $100 million

Tom Gores and his new home on North Carolwood Drive (Credit: Getty, Simon Berlyn)

The priciest sale of the year was an unusual transaction valued at $100 million. Detroit Pistons-owner Tom Gores traded a number of his properties — including developable land plots — for a newly built estate on North Carolwood Drive. Developer Gala Asher built the spec home on the former site of Barbara Streisand’s Mon Rêve property. Listed at $150 million, it includes a private hiking trail and a 5,300-square-foot master suite.

The deal was a family affair. Asher’s wife, Ginger Glass of Coldwell Banker, was the listing agent. Gore’s sister, Samira Gores, as well as Tiffany Martin and Christine Martin of the Agency, represented him.

2. Playboy Mansion, Holmby Hills | $100 million

Daren Metropoulos and the Playboy Mansion at 10236 Charing Cross Road

The sale of the Playboy Mansion stole the spotlight this year, not least of all because of its $100 million sale price. There was also the buyer: Twinkie-heir Daren Metropoulous, who owns the property next door and plans to combine the two. And the stipulation to end all stipulations: Hugh Hefner, 90, will continue to live on the property until death. 

The property on Charing Cross Road sold for half its asking price of $200 million. Mauricio Umansky of the Agency had the listing, as well as Gary Gold and Drew Fenton of Hilton & Hyland. Jade Mills of Coldwell Banker represented the buyer.

3. Owlwood, Holmby Hills | $90 million

The Owlwood estate (via Douglas Elliman), Bob Shapiro (via BusinessWire), Sonny and Cher (via Getty Images)

Owlwood, the former home of Sonny and Cher, sold for $90 million to a group headed by Woodbridge Luxury Homes CEO Robert Shapiro. The Italian Revival style 12,000-square-foot mansion sits on a 10-acre property assembled by billionaire Roland Arnall in 2002. Shapiro’s plans for the site were not announced, but a spec development is anticipated. 

The asking price for the whisper-listing was $150 million. Ann Dashiell of Douglas Elliman had the listing. Adam Rosenfeld and Kyle Giese of Mercer Vine represented the buyer.

4. Beverly Park Lane, Beverly Hills | $40 million

As part of the complex transaction for his $100 million spec home, Tom Gores handed over his Beverly Park residence to spec developer Gala Asher and Ed Berman. Gores bought the 20,000-square-foot house on the 2.27-acre property just four years ago, in 2010, for $21 million. He had not commenced any major remodeling at the time of the sale. Asher’s plans for the property, which was valued at $40 million, have not been announced.

Christine Martin of the Agency had the listing.

5. Stradella Road, Holmby Hills | $39 million

The property on Stradella Road

Developers Jonathan Adler and Joe Englanoff sold a 14,200 square-foot Paul McClean-designed Bel Air mansion for $39 million. After purchasing the site in 2012 for $5.1 million, they built a seven-bedroom contemporary spec home, which they completed in 2014. It boasted, among other things, Fendi-designed chandeliers. 

The property was listed for $48 million. A veritable parade of brokers listed the home: Brandon Williams and Rayni Williams of Hilton & Hyland; Ben Bacal of Rodeo Realty; Mauricio Umansky of the Agency; and Jade Mills of Coldwell Banker. Fred Bernstein of Westside Estate Agency represented the buyer.

6. Calle Vista Drive, Beverly Hills | $39 million

The large stone mansion Tom Cruise once shared with Katie Holmes on more than an acre of land in Beverly Hills sold for $39 million in an off-market transaction. Cruise originally bought the home in 2007 for $32.5 million.

Michael Eisenberg of Keller Williams had the listing. Buyers Leon and Debra Black were represented by Sharyn Gertz and Deedee Howard of the Agency and Fred Bernstein of Westside Estate Agency. Leon Black is a billionaire financier, who co-founded the private equity firm Apollo Global Management in 1990.

7. Bloomingdale Estate, Holmby Hills | $38.75 million

Tom Ford and the Bloomingdale estate

Tom Ford bought the Bloomingdale Estate in Beverly Hills for $38.75 million, not long after heiress and style icon Betsy Bloomingdale passed away in July. The nine-bedroom, 10,000-square-foot manor on 3.5 acres in Beverly Hills was designed by Billy Haines. 

Kurt Rappaport of Westside Estate Agency represented Ford. Josh Flagg of Rodeo Realty, star of Bravo TV’s “Million Dollar Listing LA,” had the listing. He told TRD there was not a definitive asking price, though it was rumored to have been shopped around for over $40 million.

8. Williams Residence, Beverly Hills | $38.27 million

Spec developer Nile Niami sold a Paul McClean-designed 14,000-square-foot contemporary spec home in the Trousdale Estates neighborhood to billionaire financier Brian Sheth. Niami bought the lot in April 2013 for just $7 million, demolished the house that was there, and built what is now known as the Williams Residence. 

Drew Fenton of Hilton & Hyland had the listing. He is working with Niami on a number of other projects, including a spec mansion in Bel air known as “The One,” which Niami reportedly hopes will sell for $500 million.

9. Bellagio Road, Bel Air | $34.93 million

Melvin and Bren Simon and their Bel Air estate on Bellagio Road, which recently sold for $35M

Bren Simon, the philanthropist and widow of billionaire shopping mall magnate Melvin Simon, sold her 20,000-square-foot compound on 15 acres near the Bel Air Country Club. 

The property was listed with Jerry Jolton of Coldwell Banker Residential. Joy Denton at Sotheby’s International Realty represented the buyer, and confirmed it was a local businessman, but declined to name her client.

10a. Casale Rd, Brentwood | $32.5 million

Yet another Paul McClean-designed spec home sold for north of $30 million, to Richard and Jackie Hollander. The 15,000-square-foot contemporary was constructed by Tyler Development. Drew Fenton of Hilton & Hyland had the listing.

The Hollanders have owned a number of valuable L.A. properties, including an oceanfront property on Malibu Road they sold to Edward Minskoff for $30 million in 2010. Richard Hollander is the Chairman of Aristotle Capital Management.

10b. Trousdale Place, Beverly Hills | $32.5 million

Tied for 10th place is an unremarkable 5,265-square-foot home in Trousdale Estates. But the home isn’t what fetched the remarkable sale price. The tear-down is on a double lot comprising nearly two acres of developable  land in one of L.A.’s most desirable pockets. The parcel sold to an unidentified LLC.

Myra Nourmand of Nourmand and Associates had the listing. The sale was eventually completed off-market, and it was unclear who represented the buyer.