Entrepreneurs and executives poured tens of millions of dollars into the high-end real estate market in Los Angeles this week, purchasing homes in both the Hollywood Hills and Beverly Hills — not to mention one eye-raising home rental in the Valley by a YouTube legend.
Eric Baker, founder of online ticket marketplace Viagogo, spent $23.5 million to acquire a 10,300-square-foot mansion in the Beverly Hills Flats. The executive paid all-cash for the home, which was asking just $50,000 more than what Baker paid. Lawyer Andrew White and his wife, doctor Elisa Newman, were the sellers. The Mediterranean-style home has seven bedrooms and seven bathrooms. Amenities at the sprawling property include an expansive backyard, screening room and a gym with private bath and sauna. Before he founded Viagogo, Baker co-founded Stubhub, another online ticket resale firm.
Another executive, Richelieu Dennis, who heads New York-based Sundial Brands, also purchased a new home recently. The CEO bought a 12,100-square-foot home in the Hollywood Hills from a spec developer for $15.7 million. Though the deal closed in August, he was just revealed as the buyer this week. The glassy contemporary home has six bedrooms and seven bathrooms, and features a 2,500 square-foot living room, a Tuscan-style garden with mature olive trees, as well as a boomerang-shaped swimming pool overlooking the Sunset Strip of West Hollywood.
In the Valley, newly married Justin Bieber signed a deal to rent a Toluca Lake pad for almost $100,000 per month. Spanning 7,000 square feet, the recently remodeled home has five bedrooms and seven baths. More importantly for the singer and YouTube legend, it has a professional recording studio, along with a pool, spa and private dock with two paddle boats. Bieber agreed to rent the home, which is listed off-market for $8.5 million, in a short-term arrangement that pushed up the monthly fee. The home’s owners, Kathleen McIntyre and Howard Atkins — a former CFO of Wells Fargo & Co. — bought it for $4.9 million in 2009, according to property records.
Here’s hoping Bieber’s new neighbors are more welcoming this time around.
Last but not least, a unit rich in Old Hollywood history came on the market this week asking $15 milion. The 8,000-square-foot penthouse unit, which boasts five bedrooms, is in a residential building on Santa Monica’s Ocean Avenue formerly owned by the late actor William Holden. There’s also a 2,300-square-foot rooftop deck with hot tub, six parking spaces, and sweeping ocean views. Howard Murad, a dermatologist and beauty entrepreneur, and his wife, Loralee, are the sellers. They purchased the property in 2011 for $10.5 million, property records show.