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The Real Deal Los Angeles

This week in celeb real estate: An $88M home comes to market, a plot with Hollywood history is for sale.. & more

By Natalie Hoberman | September 07, 2018 05:00PM

Michael Palumbo, Gary L. Wilson and the guest house of 320 Delfern Drive (Credit: iStock, Pixabay)

Sell, sell, sell.

At least that’s what celebrities in Los Angeles are hoping for this week. Four lavish homes came on the market, ranging from new construction specs to residences rich in Hollywood history.

The most expensive listing this week can be spotted in Bel Air, where a luxury spec home is under construction. Elite Investment Management is building the 19,000-square-foot mansion, listed at $88 million. Once completed, it will include a 1,700-gallon fish tank, wine and cigar lounge, 18-seat movie theater and even a waterfall. Architect Michael Palumbo designed the three-story house.

Another yet-to-be-completed property hit the market nearby. A parcel of land adjacent to one of Holmby Hills’ grand estates is being marketed for sale for $35 million. Gary Wilson, the former chairman of Northwest Airlines and CFO of Disney, is selling the 2.2-acre plot of land. It’s next door to the famous former estate of Edith Mayer Goetz, daughter of movie mogul Louis Mayer.
Wilson unsuccessfully tried to sell the two properties for a combined $79 million in 2016, only to then split the land into two pieces after it lingered on the market. Billionaire investor Nicolas Berggruen paid $40.8 million for the Goetz estate the following year.

Demi Lovato, pop singer and former child actress, has put her home in the Hollywood Hills up for sale for $9.5 million. The listing comes just two months after the singer suffered an overdose in the residence. Located on Laurel View Drive, the two-story estate has four bedrooms and five bathrooms. There’s also an outdoor grilling area and infinity-edge swimming pool. The singer paid $8.3 million for the 5,500-square-foot home in September 2016.

Also in the Hollywood Hills, a “House of Sin” is selling for $8.5 million. English photographer Richard Franklin, who has worked with celebrities like Kim Kardashian, is listing the home on Sunset Plaza Drive. The 5,300-square-foot modern-style home includes five bedrooms and six bathrooms. There’s also a grotto, custom waterfall, casino and nightclub in the property, which of course, is clad in Franklin’s art. The home has also doubled as Franklin’s studio.