The modestly sized modernist Case Study House No. 21 in the Hollywood Hills has sold for $3.26 million, a few months after listing at $3.6 million.
The home, known as the Bailey House, went on the market in October. Aaron Kirman of Compass and Edward Reilly of Keller Williams repped the seller, art gallerist P.J. Park, the Los Angeles Times reported.
Hilton and Hyland’s Rayni Williams repped the buyer, a trust associated with Allison Sarofim, a film producer, actress, and the daughter of billionaire Fayez Sarofim. The Egyptian-born businessman’s eponymous investment firm, based in Houston, manages around $30 billion in assets.
The 1,280-square-foot home is the work of architect Pierre Koenig and is one of less than two dozen surviving homes built as part of Arts & Architecture magazine’s Case Study House Program, which became active after World War II. The program challenged top architects of the day, including Richard Neutra and Charles and Ray Eames to build inexpensive homes accessible to the nation’s booming population.
Most were built in the L.A. area. Actress Kristen Wiig paid almost $3 million for Case Study House No. 10 in Pasadena in 2017. Case Study House No. 18 hit the market in April of last year for $10 million.
The Bailey House is essentially a steel-frame rectangle with floor-to-ceiling glass walls, surrounded by shallow ponds and a small graveled yard. It has two bedrooms and two bathrooms.
The home previously listed for $4.5 million in 2016. Park purchased it in 2007 for $3.2 million and turned it into an outpost for his Seomi International gallery. [LAT] — Dennis Lynch