Buyers chose the new new thing in LA luxury market last week

Two of the 5 priciest homes that sold were new construction, one in Beverly Hills and the other in Pacific Palisades

TRD LOS ANGELES /
May.May 11, 2020 03:00 PM
Two of the five five priciest residential sales in Los Angeles County last week (Credit: Google Maps)
Two of the five five priciest residential sales in Los Angeles County last week (Credit: Google Maps)

Luxury home sale prices ticked up last week in Los Angeles despite the many hurdles that buyers, sellers, and their agents had to clear.

Combined, the five priciest homes that sold totaled $31.4 million, which was 10 percent above the previous week’s total.

Two new-construction homes topped the current list; the three others are at least 20 years old.

This list was compiled with data from Redfin, for homes whose sales closed between May 4 and 11.

1672 Clear View Drive | Beverly Hills | $10.4M

The market for new construction white-box moderns has been somewhat weak over the last couple of years, but the price tag on this five-bedroom, eight-bathroom property suggests there are still buyers. But those buyers aren’t willing to bite at the first price. The 8,800-square-foot property first hit the market in December, asking $15 million before that was dropped to $11 million in late March. Compass’ Ginger Glass represented both the buyer and seller in the deal, which came out to $1,188 per square foot.

The home includes a home theater and a 1,500-bottle wine room. The ground-floor space opens up to the deck and pool area through wide moveable walls.

531 Arbramar Ave. | Pacific Palisades | $6.1M

Like the top sale, this 7,000-square-foot home is new construction, but traditional in style. There are six bedrooms and eight bathrooms, a large kitchen, and large glass rear doors that open the home up to the hedge-lined backyard. It also has a wine room, gym, and home theater. The home was on and off the market last year and was most recently listed for $6.4 million in late March. The sale came out to $871 per square foot. Teresa Akerblom with Berkshire Hathaway and Caitlin Tabit with Coldwell Banker shared the listing. Compass’ Wheeler Coberly represented the buyer.

2104 Flournoy Road | Manhattan Beach | $5.7M

This 20-year-old, 4,300-square-foot home mixes traditional beach house elements like white shingling with some unique architectural angles and high ceilings that include skylights. It also manages to pack a relatively large backyard into less than a quarter-acre of land. The five-bedroom home, five-bathroom home last sold in 2016 for $4.3 million and hit the market in late January asking $7 million before getting a price cut down to $6 million a month later. The sale figured out to $1,326 per square foot. Lee LeGrande with NW Real Estate Brokers had the listing. Jenny Morant with Compass represented the buyer.

16829 Monte Hermoso Drive | Pacific Palisades | $5.1M

This Mediterranean-style home sits on 3.1 acres. The six-bedroom, nine-bathroom house itself sits on the lower portion of the property, which stretches up a terraced and landscaped hillside. The sale comes with “conceptual plans” for a guest house and pool for the highest points of the property with ocean views, as well as a golf cart path to get there. The home is centered on a courtyard and pool. It hit the market last year and was most recently asked $5.4 million. The sale comes out to $595 per square foot. Robert Radcliffe with Compass represented the seller, while Inna Santoso of Keller Williams brought the buyer.

19028 Devonport Lane | Tarzana | $4.1M

A sale fell through for this large property in early March, but the sellers and agent found a buyer by last week. The property is marketed as a double lot totaling 3.5 acres. The Mediterranean-style house totals 6,500 square feet with five bedrooms and eight bathrooms. The main interior space has 24-foot-high ceilings. The rear of the home opens to a large landscaped backyard dominated by a pool and patio area. M. Michale Martin with Rodeo Realty had the listing, while Sarkis Apajian brought the buyer. The sale came out to $626 per square foot.


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