Mansions still trade despite LA market slowdown
Top five resi deals last week totaled nearly $28M
The pandemic has slowed down Los Angeles’ housing market, but there are still buyers and sellers looking to transact.
The five priciest sales that closed last week totaled about $27.5 million, and all but a lone sale in Manhattan Beach went down in the stretch of high-priced neighborhoods from Pacific Palisades to the Hollywood Hills.
25175 Jim Bridger Road | $8.1M | Hidden Hills
This 11,200-square-foot home sits on just over an acre and has six bedrooms and eight bathrooms. The home was built in 2002 and was recently remodeled. The interiors feature mostly light tones with black design accents. The home includes a wine cellar and home theater. There’s also a guest room on the property. The home was listed for just under $9 million as recently as a year ago, and the price dropped to $8.6 million in late April. Marc and Sara Shevin with Berkshire Hathaway represented the seller, while Peter Radd with Compass repped the buyer.
7847 Torreyson Drive | $8.3M | Laurel Canyon
This 2.8-acre property consists of two lots behind a gate and a tree-line drive. There are two homes — a three-bedroom French Villa style house and a four-bedroom country style home. The backyard’s pool and patios emphasize the property’s views over the San Fernando Valley. It last sold for $11.4 million in 2015 and was listed in July of last year asking $9.5 million. The sale works out to $769 per square foot. The buyer was represented by Peter Lorimer of PLG Estates, while Josh Altman of Douglas Elliman and Eddie Toudeh Fallah of the Lux Group had the listing.
12642 Hortense Street | $3.9M | Studio City
This 2018-built Cape Cod-style home sits on a quarter of an acre on the north side of Studio City near Sherman Village. The main house spans 5,900 square feet, meaning the deal penciled out to $668 per square foot. The home has five bedrooms, 6.5 bathrooms, a theater, and a backyard with a patio, barbeque area, and a pool. Heather Boyd with Hilton & Hyland represented the seller. Rick Tyberg with Douglas Elliman repped the buyer.
844 14th Street | $3.7M | Manhattan Beach
This newly built 3,500-square-foot home sits on 5,000 square feet, making it the smallest property of last week’s top sales. The deal came out to $1,072 per square foot. There are five bedrooms and 5.5 bathrooms. The main floor includes an office and a powder room. The kitchen is a focal point and includes Thermador appliances and quartz countertops. Joseph Nuzzolo of Thompson Team Real Estate had the listing. The buyer was represented by Holly Messer of Christies International Real Estate.
16838 Calle De Sarah | $3.5M | Pacific Palisades
This Pacific Palisades home was built in 1995 on about 0.3 acres in a subdivision surrounded by hiking trails and parks. There are five bedrooms and 4.5 bathrooms in the 5,300-square-foot home. The sale works out to $645 per square foot. Compass’ Richard Stearns had the listing. Alexandra Pfiefer with Berkshire Hathaway represented the seller.