Hankey Capital sells Bird Streets mansion for $25M

Discount offers came before ULA tax deadline, but “well capitalized” seller didn’t flinch

The mansion at 1410 Tanager Way sold this week with a familiar name in upscale real estate attached to the deal — Hankey Capital. 

The company’s Chairman Don Hankey was the largest creditor of the ill-fated megamansion The One in Bel-Air, which sold for $141 million in an auction sale in 2022. Forbes gives Hankey a net worth of $7.2 billion, mostly made from subprime car loans.

Hankey Capital acquired 1410 Tanager Way in the Bird Streets neighborhood of Los Angeles out of foreclosure in 2019. It sold June 12 for $25 million.

Tyrone McKillen, a principal at Plus Real Estate at Official, along with Branden and Rayni Williams of The Beverly Hills Estates served as co-listing agents. Michael Chen, affiliated with AKG Christie’s International Real Estate, represented the buyer. The identity of the buyer was not disclosed.

With 14,000 square feet, the home at 1410 Tanager Way sold for $1,786 per square foot. The mansion is located about a mile away from 1301 Collingwood Place, another Bird Street mansion which sold for $37 million on June 13.

1410 Tanager Way was most recently listed for about $30 million in February, just when the sprint started to make deals on luxury homes before the April 1 deadline before the ULA transfer went into effect.

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The two high-dollar deals on Bird Streets are proof that transactions for pricey deals continue to take place after the ULA, McKillen said. 

“There were vulture offers being thrown around,” McKillen said of three offers requesting discounts before the ULA deadline. “But the seller is extremely well capitalized and did not fall for it.”

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Built on more than a half-acre of land in 2022, the three-level house at 1410 Tanager Way offers a pool, spa, gym, yoga area, fire pit and a lounging deck with views. 

“It was a home designed for entertainment,” McKillen said. “We thought of our buyer as a single guy or couple interested in entertaining.”