Celebrities and makeup moguls breathed new life into the high-end real estate market in Los Angeles this week, interrupting the recent stream of price chop listings with several purchases. Still, the bulk of the activity stemmed from sellers struggling to unload their multimillion-dollar homes.
Media executive Casey Wasserman, grandson of the late studio exec Lew Wasserman, is softening the price on his Foothill Estate. The 18,500-square-foot mansion in the Beverly Hills Flats re-listed at $97.5 million, down from $125 million. Built in 2016, the property features five bedrooms, an art studio, 1,150-square-foot gym, private screening room, an 85-foot infinity pool and pool house. Wasserman acquired the property from his grandparents, and paid $6.5 million to acquire the neighboring lot from legendary singer Frank Sinatra.
There was also another price drop in Bel Air. U.S. Ambassador to Denmark Carla Sands chopped the ask on her 14,700-square-foot home from $37 to nearly $26 million, the Los Angeles Times reported. The Italian villa-style home has six bedrooms, 11 bathrooms and a guest house. Sands and her late husband, real estate investor Fred Sands, purchased the site for about $4 million in 1999. They built the home in 2002.
Kim Kardashian and Kanye West have acquired the house next door to theirs as they continue to build out their massive Hidden Hills estate. The duo paid $2.7 million for the 1.6-acre lot, which has a 1950s-era home that will likely get torn down. The estate of the late Richard Matheson, an author whose work includes “I Am Legend,” sold the property. Combined, the couple now own more than six acres in the gated celebrity enclave, the Times reported.
A cosmetics guru set a new high for L.A. County this week. Toni Ko, founder of NYX Cosmetics, sold her 4,400-square-foot penthouse in Santa Monica for $12.5 million, claiming the county’s biggest condo sale of the year. Bob Brisco, who is CEO of website operator Internet Brands, was the buyer. The sprawling unit, which is made up of two adjoining units, takes up half a floor at the Seychelle, a 10-story luxury tower at 1755 Ocean Avenue.
Farther west, the luxury lifestyle creator James Perse listed one of his estates in the Point Dume area of Malibu for $40 million. Spanning 4,200 square feet, the home features five bedrooms and six bathrooms. Perse paid $16 million for the property on Zumirez Road in 2010. It was built in 2004 by “X-Files” creator Chris Carter, and designed by the firm Nicolas, Budd, Dutton.