Hankey Capital won’t set records on its next sale of a luxury home in Los Angeles–but the deal won’t be nearly as complicated as its role in the headline-grabbing auction of The One earlier this year.
The Hancock Park-based operation of billionaire auto financier Don Hankey was the largest creditor of Nile Niami’s ill-fated megamansion in Bel-Air, which fetched a record price for a residential property at auction with a final bid of $126 million in a bankruptcy sale.
Now Hankey Capital is behind the sale of a newly built home in the exclusive Bird Streets neighborhood of the Hollywood Hills. The property at 1410 Tanager Way is listed for $34 million by Tyrone McKillen of Compass and Branden Williams of Williams & Williams Estates Group. The 14,000-square-foot home, priced at $2,439-per-square-foot, includes five bedrooms and eight baths on a little more than a half-acre of land.
Hankey acquired 1410 Tanager Way out of foreclosure in 2019. According to the deed, there was a transfer from Chicago Title to Hankey Capital when the acquirer assumed $21.6 million debt on the property.
Hankey tore down a previous three-bed, three-bath home on the property, which was built in 1976. Construction of the current house was wrapped earlier this year by Los Angeles-based Vantage Design Group. The place includes a pool, spa, and cascading waterwall, along with a gym, yoga area, firepit, and a lounging deck with city views.
New construction may be a deciding factor in home pricing. A 3,807-square-foot neighboring home, 1478 Stebbins Terrace, was built in 1947 and was sold for $4.5 million in April––about $1,200 per square feet. 1512 Sunset Plaza Dr., a 3,982-square-foot home was built in 1931 and sold for $4.6 million in March, a similar range.
But 1410 Tanager Way is by no means the highest-priced offering in the area. The Flicker Estate, a spec home developed by Joseph Englanoff, features a hookah bar, a sand volleyball cart and a hot tub for 30 people. The ask price is $72.5 million.
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