Is January the “divorce month” for separating couples to unload their pricey pads?
It sure seemed like it this week, as not one, but two high-profile divorcing couples listed their shared properties for sale in Los Angeles. The week also saw more price cuts in the higher-end market, a trend that is showing no signs of letting up.
In Beverly Hills, Steve Dunn, the founder of a toy supplier company, and Laura Dunn, an actress and journalist, are putting their 21,000-square-foot property on the market for $72 million. The compound sits on about 10.5 acres and includes a guesthouse, two swimming pools, a tennis court, bocce court and two-hole golf course modeled after Augusta National Golf Club. The Dunns, who are in the midst of divorcing, spent $11.2 million to acquire the 17,500-square-foot main house. They spent another $30 million on upgrades.
Powerhouse agent Ari Emanuel also put his family home on the property after splitting from his wife of 20 years. The William Morris Endeavor co-CEO listed an 8,000-square-foot residence in Brentwood for nearly $19 million. He also owns the property next door, and it’s possible both would be sold together. The bachelor pad includes five bedrooms and six bathrooms and a detached two-story guest house on the 0.75-acre property. Emanuel paid $16.5 million for the mansion three years ago, records show.
Developer David Dollinger picked up a 1.4-acre spread in Bel Air for $29 million. The site is home to a roughly 7,000-square-foot mansion dating from 1938. Robert H. Blumenfield, a developer and art collector, owned the current home for 20 years. Listing materials market the site as a teardown, fit for the Dollinger Properties principal.
Two prominent businessmen dropped their asking prices this week. Evan Metropoulos, heir of the Hostess Brands fortune, lowered the price on his gutted penthouse unit at the Sierra Towers in West Hollywood to $38 million. That’s 34 percent less than his original ask of $58 million. Meanwhile, Barry Shy cut the price of his Beverly Hills mansion to $22.5 million. The developer has been trying to sell the 13,500 home — once owned by a granddaughter of Jean Paul Getty — since March 2016.
Meanwhile, former Los Angeles Clipper Blake Griffin listed his pad in the Pacific Palisades for $10.9 million. The 9,600-square-foot home includes six bedrooms and seven bathrooms on three floors. Griffin paid about $9 million for the Cape Cod-style residence six years ago, the Los Angeles Times reported. He now plays for the Detroit Pistons.
Over in Encino, Wiz Khalifa paid $3.4 million for a newly built home. The contemporary style spread features five bedrooms, six bathrooms, a wine bar, swimming pool and pool house. It hit the market at $3.5 million about seven months ago, the Los Angeles Times reported.