Spec developer Phillip Braunstein nabbed a buyer for his Tigertail Road property that’s asking nearly $24 million.
The estate, which was a little over five years in the making, topped last week’s roster of homes to go into contract within Los Angeles County, according to a report from Douglas Elliman’s Eklund Gomes team.
The Eklund Weekly Luxury Report Los Angeles, which is compiled by the team’s Marcy Roth, counts single-family and condominium homes listed at $4 million or more in the Multiple Listing Service.
Braunstein’s property is located at 1104 Tigertail Road in Brentwood’s Crestwood Hills. The neighborhood is known for its Mid-Century Modern designs carved into the Santa Monica Mountains above Sunset Boulevard.
David Parnes and James Harris, who helm Carolwood Estate’s Bond Street Partners team, hold the listing.
Braunstein originally placed the property on the market last September for $25.9 million, after purchasing it for $3.4 million in 2017 and then building anew, according to property records.
If the closing price is anything above $5.3 million, the deal triggers the Measure United to House Los Angeles (ULA) tax. The tiered assessment levies a 4 percent tax on all real estate transactions starting at $5.3 million and 5.5 percent for those $10.6 million or more. The fee, which is billed as a mansion tax, applies only to deals within the city of Los Angeles.
The Tigertail Road property sits on a little over an acre with the home spanning more than 14,000 square feet. It has six beds and 10 baths with views of the Getty Center running the length of the 200-foot-long lot.
Other highlights include a herringbone-design motor court, living room anchored with a stone fireplace and olive tree, primary suite with its own wraparound terrace, wellness center, elevator and infinity pool.
Sitting in the No. 2 spot among last week’s signed contracts is 708 North Rexford Drive in Beverly Hills, which is listed for $16.9 million.
Carolwood’s Brett Lawyer holds the listing.
Property records show the seller is Fox Television Stations CEO Jack Abernethy and his wife Rosemary Abernethy, who bought the home in 2019 for $10.4 million.
The couple placed the six-bed, 10-bath home on the market in March for $19.9 million.
It’s nearly 7,000 square feet in the Beverly Hills Flats neighborhood with a separate wing for staff, pool, guest house, gardens and privacy hedges out front.
Across Los Angeles County, 27 homes went into contract last week, which was good for $191.2 million in asking dollar volume, according to the Eklund Gomes report. That’s a hike 186 percent from the same period a year ago, when 16 contracts were inked.