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Design-minded spec developers sell Brentwood mansion for $24M
Unidentified tech billionaire buys eco-conscious home in Mandeville Canyon
A spec Brentwood mansion developed by a duo that includes Smashbox Cosmetics’ former global head of creative traded for $23.5 million.
Wylan/James Development sold 1741 Correa Way to a tech CEO billionaire, according to Coldwell Banker Realty’s Derrick Smith.
Smith, along with Westside Estate Agency’s Kurt Rappaport and Ruiya Feng, brokered the deal on behalf of the sellers. The Agency’s Mauricio Umansky and Farrah Brittany represented the buyer. Umansky did not respond to requests for comment.
The seller is subject to a 5.5 percent transfer tax, which equates to $1.3 million, under the City of Los Angeles’ Measure ULA.
The contemporary-style home was originally listed for $29.5 million in July and saw a series of price reductions before its sale last week, according to Zillow.
That the buyer paid cash in a market littered with auctions and price cuts speaks to the Correa Way property’s quality, which helped the deal cross the “finish line,” Smith said.
The home has more than 13,000 square feet on 0.8 acres and counts six bedrooms, along with seven and one half-bathrooms in Brentwood’s Mandeville Canyon.
It was built with sustainability in mind, featuring natural lighting and cabinetry made from clean energy and recycled materials. Highlights include a 50-foot infinity pool, gym, eight-seat theater, wine room and ocean views.
Wylan/James of Los Angeles is helmed by Simon James, co-owner of directional men’s boutique fashion store Union and former global head of creative at Smashbox where he designed stores, along with Brock Wylan, former president of arts and photography company Picture Publishing.
Kap Studios served as architect for the project.
The home’s sale came just a few days after another Mandeville Canyon property, less than a mile away, reportedly traded hands.
Rapper Kendrick Lamar paid more than $40 million for the nine-bedroom, Farmhouse-inspired mansion at 1707 Westridge Road, according to a Wall Street Journal report citing anonymous sources. A trust tied to former Fox Chief Legal and Policy Officer Viet Dinh was the seller in the off-market deal, which could rank as one of Los Angeles’ priciest this year.