Huge Thousand Oaks compound breaks local sales record

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

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
(Getty)
LA transfer tax could impact luxury home segment
LA transfer tax could impact luxury home segment
Rapper The Game and Comedian Kevin Hart (Getty)
Utility chokes off flow to water-guzzling celebrity mansions
Utility chokes off flow to water-guzzling celebrity mansions
From left: Kimberly Green, Chase Rogers, Anastasia Lavrovskaya, and Leo Goldschwartz (LinkedIn, Getty, Aaron Kirman, Beverly Estates, Zillow)
Movers: “Real Estate Wars” star joins Coldwell Banker
Movers: “Real Estate Wars” star joins Coldwell Banker
Ariana Grande and 210 Miramar Avenue in Montecito (Village Properties, Getty)
Ariana Grande sells Montecito mansion for $9.1M
Ariana Grande sells Montecito mansion for $9.1M
From left: Warren Wachsberger, Mike Leipart, and James Harris with The Pendry Residences
The Agency steps into sales at The Pendry Residences WeHo
The Agency steps into sales at The Pendry Residences WeHo
Allen B. Schwartz with 2383 Mandeville Canyon Road (Getty, Compass)
Fashionista Allen Schwartz takes $16M for Brentwood house
Fashionista Allen Schwartz takes $16M for Brentwood house
5012 Carbon Beach Terrace in Malibu (Redfin)
Sprawling Malibu spec house sells for $38M
Sprawling Malibu spec house sells for $38M
From left: Kim Kardashian and Cindy Crawford with 33128 Pacific Coast Highway
Kim Kardashian buys former Cindy Crawford home in Malibu for $70M
Kim Kardashian buys former Cindy Crawford home in Malibu for $70M
arrow_forward_ios

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

Loading...