Mo Ostin’s Palisades home sells for $4.9M

Los Angeles /
Jan.January 19, 2017 05:23 PM

Legendary music executive Mo Ostin sold his Pacific Palisades home on Villa Woods Drive for $4.86 million to an undisclosed buyer.

The 4,800-square-foot contemporary home sold below its asking price of $5.9 million. It hit the market in April 2016.

The five-bedroom, five-bathroom home was listed by Dena Luciano and Tracy Maltas of Douglas Elliman. Guy Reid of Engel & Volkers represented the buyer.

Ostin, chairman emeritus at Warner Bros. Records, purchased the property for $403,500 in the early 1980s, the Los Angeles Times reported. He renovated it in 2002.

In 2008, the deed for the home was transferred to Ostin’s late son, music executive Randall Ostin, who also lived at the property for several years.

The family trust, controlled by Ostin, has another home on the market, a $19 million seven-bedroom, eight-bathroom mansion off River Road in Brentwood.

Ostin was inducted into the Rock and Roll Hall of Fame in 2003 by Paul Simon, Neil Young and Lorne Michaels. He’s worked at Warner Bros. for 32 years and is known for signing a slew of top acts including Beach Boys, Neil Young, Prince and Jimi Hendrix. [LAT]Subrina Hudson


Related Articles

arrow_forward_ios
Los Angeles county condo sales were up last month

LA condo sales continue their unlikely rise

LA condo sales continue their unlikely rise
Clockwise from top left: James Harris, Tracy Tutor, Josh Altman, Josh Flagg, and David Parnes

WATCH: Million Dollar Listing LA stars dish on the luxury market

WATCH: Million Dollar Listing LA stars dish on the luxury market
Chuck Lorre and the home (Credit: Emma McIntyre/Getty Images, and Google Maps)

Producer Chuck Lorre buys again in Pacific Palisades

Producer Chuck Lorre buys again in Pacific Palisades
Join LA’s residential stars for a market discussion Oct. 7

Join LA’s residential stars for a market discussion Oct. 7

Join LA’s residential stars for a market discussion Oct. 7
Metropolis Los Angeles, and The Century Plaza

Surprise, surprise: LA condo sales are way up

Surprise, surprise: LA condo sales are way up
Kwanza Jones and Jose E. Feliciano with the home (Credit: Greg Doherty/Getty Images)

Billionaire José Feliciano and Kwanza Jones add $20M manse to LA portfolio

Billionaire José Feliciano and Kwanza Jones add $20M manse to LA portfolio
Johnny Hallyday and the home (Credit: Kristy Sparow/Getty Images, and Google Maps)

Pacific Palisades home of “French Elvis” lists for $18M

Pacific Palisades home of “French Elvis” lists for $18M
Jason Oppenheim and Josh Flagg (Credit: Alberto E. Rodriguez/Getty Images and iStock)

Pent-up demand lives! L.A. County home deals up year-over-year

Pent-up demand lives! L.A. County home deals up year-over-year
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...