Pacific Palisades home on site once owned by Ronald Reagan sells for $22M

Spec house was first shopped by Jaman Properties for $33M

TRD LOS ANGELES /
Mar.March 03, 2017 05:00 PM

A Pacific Palisades mansion built on land once owned by President Ronald Reagan and First Lady Nancy Reagan has sold for $22 million, the Los Angeles Times reported.

The 12,000-square-foot spec house was built by Jaman Properties, a development firm led by screenwriter Janus Cercone and movie producer Michael Manheim. The 10-bedroom property has a 2,000-square-foot master bedroom and a temperature-controlled gym and comes with a separate guest house and saltwater pool.

The buyer was identified in public records only as Victoria 89, LLC.

The property was first shopped for $33 million last year, before officially listing for $25 million. Kurt Rappaport of Westside Estate Agency had the listing, while Richard Stearns of Partners Trust represented the buyer.

The Reagans owned the property in the 1950s, while Reagan was the Governor of California. They sold it after he was elected president. [LAT]Katherine Clarke


Related Articles

arrow_forward_ios
Four of the top residential listings this week

Here are the priciest resi listings in LA County last week

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

Sugar Ray Leonard and the Pacific Palisades home (Credit: Getty Images)

Sugar Ray Leonard lists his heavyweight mansion in Pacific Palisades

Film producer Alain Goldman parts with Pacific Palisades home

Film producer Alain Goldman parts with Pacific Palisades home

Dennis Quaid sells another home in the Pacific Palisades

Dennis Quaid sells another home in the Pacific Palisades

Taking a shot: NBA exec asks $40K a month for Pacific Palisades home

Taking a shot: NBA exec asks $40K a month for Pacific Palisades home

$22M Pacific Palisades spec home had 143 defects, power couple says in lawsuit

$22M Pacific Palisades spec home had 143 defects, power couple says in lawsuit

Former Miss Universe buys home of the late TV exec Michael King for $34M

Former Miss Universe buys home of the late TV exec Michael King for $34M

arrow_forward_ios
Loading...