Huge Thousand Oaks compound breaks local sales record

But the 33-acre property still closed for about 60% less than its first list price

TRD LOS ANGELES /
Jul.July 22, 2019 04:00 PM
Thomas Tull and his 33-acre compound (Credit: RedFin, Wikimedia Commons)
Thomas Tull and his 33-acre compound (Credit: RedFin, Wikimedia Commons)

Closing for almost 60 percent less than his original asking price, movie producer Thomas Tull has sold a massive compound in Thousand Oaks for $35 million.

Despite a $50 million reduction on the $85 million price tag the home had when it was listed in January 2018, this was the highest-priced residential sale ever in the Conejo Valley and Ventura County, the Los Angeles Times reported. Tull set the last Conejo Valley record when he purchased the main 16-parcel part of the estate in 2011 for $19.2 million.

This wasn’t the only mega listing to close with a major reduction lately. In Los Angeles County, the Spelling Manor set a record for priciest sale ever at $120 million despite an $80 million price cut. The price cuts are emblematic of the overall sluggish luxury market in Southern California.

The Thousand Oaks compound was designed by Brian Biglin of Biglin Architectural Group. It includes a 32,000-square-foot chateau, an 11,000-square-foot guest house, a two-story studio and auto museum, and ten other structures.

The property includes 12 bedrooms and 32 bathrooms with 50,000 total square feet of space. The main property features three levels, a sports collectables museum, a theater, two infinity-edge pools, a sports court, a stocked pond, and more.

Tull founded Legendary Entertainment and is part owner of the Pittsburgh Steelers. The producer of films like “The Dark Knight” and “The Hangover” is moving his family to the Pittsburgh area.

Thousand Oaks, the second largest city in Ventura County, was devastated by wildfires in 2018, but along with a rebuilding effort, several projects are in its residential pipeline. [LAT]Gregory Cornfield


Related Articles

arrow_forward_ios
Steve Levitan and the home (Credit: Jason LaVeris/FilmMagic via Getty Images and Google Maps)

Steve Levitan of “Modern Family” fame asks $16M Malibu beach pad

Steve Levitan of “Modern Family” fame asks $16M Malibu beach pad
Jack Giarraputo and the house (Credit: E. Charbonneau/WireImage for Sony Pictures-Los Angeles via Getty Images, and Douglas Elliman)

Shovel-ready in Malibu: Producer Jack Giarraputo lists land for $32M

Shovel-ready in Malibu: Producer Jack Giarraputo lists land for $32M
From left: David Parnes, James Harris, Tracy Tutor, Josh Flagg, Josh Altman, and Hiten Samtani

“Million Dollar Listing” stars dish on LA’s luxury market

“Million Dollar Listing” stars dish on LA’s luxury market
Chuck Lorre and the home (Credit: Emma McIntyre/Getty Images, and Google Maps)

Producer Chuck Lorre buys again in Pacific Palisades

Producer Chuck Lorre buys again in Pacific Palisades
Rob Lowe and wife Sheryl Berkoff, with the home (Credit: Gregg DeGuire/WireImage via Getty Images, and Compass/The Agency)

Rob Lowe sells Montecito mansion for $46M

Rob Lowe sells Montecito mansion for $46M
LeBron James and the home at 9955 Beverly Grove Dr. (Credit: Ezra Shaw/Getty Images, and Google Maps)

Closing in on title, LeBron James closes on Beverly Hills mansion

Closing in on title, LeBron James closes on Beverly Hills mansion
John Legend and Chrissy Teigen (Credit: Charley Gallay/Getty Images)

John Legend and Chrissy Teigen find roomier digs in Benedict Canyon

John Legend and Chrissy Teigen find roomier digs in Benedict Canyon
Simon Cowell (Credit: Axelle/Bauer-Griffin/FilmMagic via Getty Images)

For Simon Cowell, Trousdale Estates wasn’t a winner

For Simon Cowell, Trousdale Estates wasn’t a winner
arrow_forward_ios

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

Loading...