Mo Ostin’s Palisades home sells for $4.9M

The Warner Bros. Records executive's home was listed in April for $6M

TRD 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
The Malibu home actress Mindy Kaling purchased in February (Credit: Mike Helfrich)

Sweet memories: Report reveals frothy pre-coronavirus LA resi market

Sweet memories: Report reveals frothy pre-coronavirus LA resi market
From left: Jason Oppenheim, Mauricio Umansky, and Peter Hernandez

LA resi leaders predict “pent up demand” post-coronavirus

LA resi leaders predict “pent up demand” post-coronavirus
The median sales price inched up less than one percent last quarter to $1.51 million from $1.5 million a year prior (Credit: iStock)

In wealthy Los Angeles, home sales are up. But prices aren’t

In wealthy Los Angeles, home sales are up. But prices aren’t
Anna and David Solomon with the Douglas Elliman's Beverly Hills offices at 150 El Camino Drive (Credit: Solomon Property Group, Google Maps)

Oh, mother: David Solomon leaves Agency for Elliman

Oh, mother: David Solomon leaves Agency for Elliman
Los Angeles Luxury Condo Market Amenities (Credit: iStock)

Amenity insanity in LA luxe condo market

Amenity insanity in LA luxe condo market
Four of the top residential listings this week

Here are the priciest resi listings in LA County last week

Here are the priciest resi listings in LA County last week
A 24,000-square-foot home in Beverly Hills Post Office

Luxury market rebounds in some LA submarkets, while median home sales hit record

Luxury market rebounds in some LA submarkets, while median home sales hit record
The home on Amalfi Drive, Paul George, and Deandre Jordan (Credit: Getty Images and Realtor)

Paul George dishes $16M for DeAndre Jordan’s former Palisades pad

Paul George dishes $16M for DeAndre Jordan’s former Palisades pad
arrow_forward_ios

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

Loading...