Signed Contracts in LA’s High End Fall

Which way is Los Angeles residential’s high end going?

It’s hard to say and the latest data comprising the Eklund Weekly Luxury Report Los Angeles from Douglas Elliman’s Eklund Gomes team indicates a mixed bag. The report, which is compiled by the team’s Marcy Roth, tallied 17 homes that went into contract last week, which equated to $126.9 million in asking dollar volume.

That’s down from the 19 deals inked in the week prior and also off 2.5 percent in comparison to that same seven-day period’s total asking dollar volume of $130.3 million.

On a year-over-year basis, which some would argue is the best gauge of change, last week’s asking dollar volume reflected a 7 percent decline from the year-ago period’s volume. But, there were four more deals last week compared to a year earlier.

The data for the report, which is pulled every Sunday, listed 1600 Casale Road in Pacific Palisades as the top home to go into contract with a list price just under $20 million.

However, the property, which was listed as contingent last week, fell out of contract and went back on the market Monday for $1 million less than its last listing price as it looks to attract a buyer with the new ask of just under $19 million.

A limited liability company named 1600 Casale and tied to Keith Natvig is the seller, according to property and state records.

The Agency’s Santiago Arana and Compass’ Craig Natvig, Keith’s son, hold the listing.

At 9,000 square feet, the six-bedroom, 10-bathroom home in the Palisades’ Riviera neighborhood — which was not as damaged by January’s fire as other parts of the community — is decked out with Smart Home technology, Tesla Powerwall batteries, an EV charging station and solar panels. It’s also relatively new after construction on the gated home was completed last year.

Last week’s second home to go into contract was 10694 Somma Way in Bel Air, which is listed for $15.8 million. It was first listed in January for nearly $20 million.

Compass’ Tracy Tutor and Thea Sheinberg hold the listing.

The home was built by the Rizzoli family, whose namesake publishing business is behind the coffee table books sitting in many a Los Angeles mansion and beyond. Rizzoli also happens to be the publisher of the late Hilton & Hyland co-founder Jeff Hyland’s book “The Legendary Estates of Beverly Hills.”

The estate is now owned by a trust tied to husband and wife David and April Tausik, according to the deed on the property.

The eight-bed, 11-bath home spans over 11,000 square feet on a 3.3-acre lot that keeps it hidden from view of the street and visitors to the nearby Hotel Bel-Air.

The property includes a mother-in-law apartment with its own entrance, a primary suite with a laundry chute and safe in the closet, library, bar, air filtration system, solar panels and Tesla Powerwalls. Outside, there’s a tennis court, pool, outdoor kitchen, fruit orchard, paths for hiking and chicken coop.