Hankey follows The One with another luxe listing

Financier lists new development in Hollywood Hills for $34M

Hankey's Don Hankey with 1410 Tanager Way (Hankey Capital, Williams & Williams Estates Group)
Hankey's Don Hankey with 1410 Tanager Way (Hankey Capital, Williams & Williams Estates Group)

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.

Sign Up for the undefined Newsletter

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.

Read more

Don Hankey with 22514 Pacific Coast Highway and Oaktree Capital co-founder Howard Marks with 31134 Broad Beach Road (Getty, Compass, Realtor)
Los Angeles
Billionaire real estate investors close on Malibu pads
Don Hankey and Le Méridien Pasadena Arcadia hotel (Hankey Investment Company, Marriott)
Los Angeles
Hankey Capital provides $29M bridge loan on Le Méridien in Pasadena
Los Angeles
Sales hookah: Spec mansion in Hollywood Hills comes with smoking lounge