Media entrepreneur Byron Allen picks up a pair of homes in Beverly Hills

Side-by-side properties near house he plans to replace with 24K sf megamansion

Byron Allen in front of 1118 Calle Vista Drive (left) and 1116 Calle Vista Drive (right) (Getty Images, Compass, Redfin)
Byron Allen in front of 1118 Calle Vista Drive (left) and 1116 Calle Vista Drive (right) (Getty Images, Compass, Redfin)

Media tycoon Byron Allen paid $32 million for two adjacent Beverly Hills homes near the mansion he aims to demolish and replace with a 24,000 square-foot estate worth $150-million.

The CEO of Century City-based Entertainment Studios picked up the pair of homes on Calle Vista Drive from Los Angeles producer and former eBay president Jeff Skoll, reported.

The side-by-side properties include a 7,500-square-foot contemporary home at 1118 Calle Vista Dr. he bought for $22.5 million; and a 3,000-square-foot Tudor-style home at 1116 Calle Vista Dr. he bought for $9.5 million.

Skoll, who paid a total of $17 million for both properties in two separate deals in 2005 and 2014, had listed the pair earlier this year for a combined $33 million.

Fred Bernstein and Ethan Peskowitz of Westside Estate Agency were the listing agents.

The larger estate sits on a promontory, with views from Downtown Los Angeles to the Pacific Ocean, according to the listing. The five-bedroom, 6.5-bath house, built in 1999, includes a wood-paneled study, gym, and wine cellar. It.sits on a nearly one- acre-lot and includes an infinity pool and guest house.

(Source: Compass)

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The smaller Tudor-style house, built in 1951, is a three-bedroom, three-bath home surrounded by mature trees on over half an acre. Its timbered living room has a loft accessible via a wooden ladder, according to the listing.

(Source: Redfin)

One-time stand-up comedian Allen and his wife, producer Jennifer Lucas, paid $17 million in 2012 for their 12,700-square-foot home at 1115 Calle Vista Dr., north of Doheny Road in the Beverly Hills Gateway neighborhood.

They have filed plans to raze the seven-bedroom, 10-bath mansion and replace it with a 24,000 square-foot mansion, of which half would be below ground. The two-story home would include a bowling alley, underground theater, gym and six-car garage. More than 100 Beverly Hills residents signed a petition to oppose the project.

Allen secured $82 million in financing to build the megamansion, including a $37.8 million mortgage from Bank of America and a $45 million line of credit, The Real Deal first reported. When completed, it could be worth as much as $150 million, according to the person who arranged the loans.

[Dirt] – Dana Bartholomew

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