Former 7-Eleven CEO cuts price for Redondo Beach manse to $12M

New asking price is 33% lower than original listing

TRD LOS ANGELES /
Feb.February 22, 2019 12:00 PM
Jim Keyes chopped the price of his home by 34 percent

Jim Keyes, the former CEO of Blockbuster and 7-Eleven, has cut the asking price for his Redondo Beach mansion down to $11.9 million.

That’s a $6-million discount, or 33 percent less than the $17.9 million he originally listed the 9,200-square-foot home for in 2017. Keyes paid about $6.4 million for the property on Esplanade Drive in 2015, the Los Angeles Times reported.

He has since remodeled the three-story home’s interior into a modern contemporary space. It features an elevator, five bedrooms, six bathrooms, an eight-car garage, a media room, and a wine cellar.

Keyes was the president and CEO of 7-Eleven Inc. from 2000 to 2005 before he joined Blockbuster as chairman and CEO, where he stayed until 2011. He now serves as the chairman of Wild Oats Marketing LLC.

Brett Miller and Destiny Davis of Douglas Elliman hold the listing with Edward Kaminsky of Strand Hill Christies International Real Estate.

Listing prices for an increasing number of houses are being slashed, particularly at the upper end of the price spectrum. TRD’s recent analysis of luxury sales showed that some of the wealthiest enclaves are seeing big price cuts and a decrease in high-end closings.

Meanwhile, the City of Redondo Beach recently approved plans for a large-scale redevelopment of the South Bay Galleria Mall that will bring 300 new rental units, a 150-key hotel and 217,000 square feet of retail space. Leo Pustilnikov, principal at SLH Investments, is also in negotiations to purchase multiple city-controlled leases on Redondo Beach Harbor. [LAT] — Gregory Cornfield


Related Articles

arrow_forward_ios
LeBron James and the home at 9955 Beverly Grove Dr.

Another palace for the king: LeBron James buys Beverly Hills mansion: sources

Another palace for the king: LeBron James buys Beverly Hills mansion: sources
The Hearst mansion's fate is tied into bankruptcy court. (Credit: Istock)

Hearst mansion owner’s bankrupt LLC got a $150K federal bailout

Hearst mansion owner’s bankrupt LLC got a $150K federal bailout
Elon Musk and the home (Credit: Pascal Le Segretain/Getty Images and Sotheby's via Money.com)

One down, six to go: Elon Musk sells Bel Air mansion for $29M

One down, six to go: Elon Musk sells Bel Air mansion for $29M
Tomer Fridman and Brielle Cohen (Credit: Compass and iStock)

Tomer Fridman hit with lawsuit over commission split

Tomer Fridman hit with lawsuit over commission split
David Geffen, Casey Wasserman, and the property (Credit: Larry French, Paul Bruinooge/Patrick McMullan via Getty Images, and NearMap via Los Angeles Times)

David Geffen pays $68M for Casey Wasserman’s Beverly Hills manse

David Geffen pays $68M for Casey Wasserman’s Beverly Hills manse
Gary Gold, Paul George, Deandre Jordan, Jeff Bezos, and Garrett Camp (Credit: Getty Images, Flickr, Hilton & Hyland, Google Maps, Realtor, Pinterest, and iStock)

Long live NAR: Agents won’t defy powerful trade group in pocket listings spat

Long live NAR: Agents won’t defy powerful trade group in pocket listings spat
Diana Jenkins and Paradise Cove (Credit: Michael Kovac/Getty Images, and iStock)

Malibu cliffside home with its own ticket to ride lists for $125M

Malibu cliffside home with its own ticket to ride lists for $125M
Lauren Sanchez and Jeff Bezos with the property at 1441 Angelo Drive (Credit: Getty Images and Redfin)

A $90 million patch of dirt: A look at Jeff Bezos’ other record LA deal this week

A $90 million patch of dirt: A look at Jeff Bezos’ other record LA deal this week
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...