Custom luxe developer sells mansion in Pacific Palisades
Fetches more than asking in $21M sale on Amalfi Drive
Custom luxury homes developer Story Company, a three-year-old partnership of AMG Capital and Aeries Development, has closed a sale of one of its first ground-up developments.
The 6-bed, 8.5-bath house at 1529 Amalfi Dr. in Pacific Palisades’ Riviera enclave closed for $21 million, or $2,236 per-square-foot. The house was listed for $19.7 million on April 25. The listing agents were Cindy Ambuehl and Nikki Magliarditi. Diana Braun represented the buyer, whose identity was not disclosed.
All the agents are associated with Compass.
Braun, the buyer’s agent, said she was unable to comment due to a non-disclosure agreement.
Amenities of 1529 Amalfi Dr. include a designer office, three-car garage, elevator, two laundry areas, a recreational room, a bar, temperature-controlled wine cellar, gym with full bath, a media room, and guest quarters, according to a description of the house on the Redfin listing site.
The property is distinguished by “a panoramic view of the protected Santa Monica Mountains,” said Billy Lehman Goodyear, chief of development for Hollywood-based Aerie. “There’s not a single house blocking its view.”
1529 Amalfi Dr. has some even higher-priced neighbors, including the Leonard Estate, located at 1550 Amalfi Dr., a one-acre property that was listed for $46.5 million in January but later delisted, according to Zillow. Also nearby is the home that Grammy winner Adam Levine and his wife, supermodel Behati Prinsloo, recently sold for $51 million.
The Riviera enclave is minutes away from the Riviera Country Club and features a number of homes with historical, including the Thomas Mann House, named for the Nobel prize-winning novelist of the 20th century.