$125M Hollywood Hills Spec Home Looks to Drum Up Interest

A nine-figure listing in the Hollywood Hills hopped off and back on the market last week to make a splash in Los Angeles County’s active inventory.

That’s according to a weekly report of signed contracts and new listings compiled by Douglas Elliman’s Eklund Gomes team. The report includes re-lists in its new listings roundup.

Beverly Hills Estates founders Branden and Rayni Williams are the listing agents; they developed the property in partnership with design firm Scott Mitchell Studio.

The high-end agents reportedly paid actor Jeremy Renner $8 million for the land at 7661 Curson Terrace in 2015 and placed the completed spec home on the market in September for $125 million. Last week, it briefly went off the market but later returned to make it the priciest listing to emerge during the seven-day period ended Nov. 30, according to the Eklund Weekly Luxury Report Los Angeles compiled by Marcy Roth.

The brokerage said the relist was on account of updated photos for the residence.

The sprawling estate comes in at 22,000 square feet with seven beds and 12 baths. It sits on a secluded lot with no neighbors to the left or right of the home. Among the amenities are a motor court that can fit at least a dozen cars, screening room, billiards room and private access to Runyon Canyon.

The home, not including the land, penciled out to $3,500 per square foot in construction costs, the listing said.

Elsewhere in Los Angeles County, the Eklund Gomes team reported eight properties falling into contract last week, which amounted to $68.8 million in asking volume. That’s down from 15 contracts totaling $133.2 million in the year-ago period.

The Eklund Gomes report counts homes listed for $4 million or more in the Multiple Listing Service.

Last week’s top home to go into contract was 701 North Beverly Drive in the Beverly Hills Flats, which is listed for $19.8 million, or $2,052 per square foot.

The six-bed, nine-bath home is over 9,600 square feet and is listed by Compass’ Michael Libow.

The seller is Brantley Capital Ltd., which has a British Virgin Islands address, according to records found in PropertyShark.

The three-level home’s primary suite comes with its own sitting room and fireplace. There’s also a gated driveway, two-story foyer in the entry, BBQ area outdoors and media room.

Even with last week’s year-over-year decline in signed contracts, actual residential closings of homes listed for $4 million or more were up in the third quarter.

The number of deals rose 21 percent to 497 transactions in the quarter, compared to a year ago, according to MLS data compiled by Westside Estate Agency. Meanwhile, sales volume jumped about 25 percent in the quarter to $784.4 million.

The median closing price ticked up roughly 2 percent to $5.5 million compared to a year earlier.