It took until nearly the end of the year, but Santa Monica has a new market leader in 2025.
A home at 2555 La Mesa Drive sold for just shy of $23 million on Dec. 11, knocking two single-family homes, which each went for $14.6 million, off their perch.
On La Mesa Drive, the recent deal was for a 10,317-square-foot home behind private gates, with five bedrooms and eight bathrooms, equating to $2,224 per square foot. The property was listed on Aug. 21, with an initial asking price of just under $25 million, according to The Agency’s Amir Jawaherian, who represented the seller, Los Angeles-based developer Peter Bakhitiari of Maison by PGB.
After purchasing the home for $6.5 million in December 2021, Bakhitiari “reimagined the property into a super-sustainable modern architectural home that combines strong design, privacy and livability,” Jawaherian said.
Westside Estate Agency’s James Mormile and Kurt Rappaport represented the buyer, which appears to be a trust linked to Nashville consultancy Oberon Solutions.
The net-zero estate includes a motor court framed by cascading water walls and a reflecting pool, a resort-style pool, a skylit atrium, expansive walls of glass, a private speakeasy lounge, a state-of-the-art movie theater and private terraces. Included is a detached guest house and private gym as well as a four-car conditioned garage.
This is the latest installment in a feature providing a weekly update on top sales by market segment, based on TRD Data for given periods. Given that the fourth quarter is incomplete, The Real Deal ranked the top sales for the first three quarters of the year using Los Angeles County tax assessor data. You can see the top 10 single-family sales in Santa Monica for the first nine months of the year by clicking here.
In May, 457 20th Street sold for $14.6 million. At 6,763 square feet, the house went for $2,151 per square foot. Outfitted with five bedrooms and seven bathrooms, the house sits on a 8,952-square-foot lot. Christie’s International Real Estate SoCal’s Cynthia Ambuehl and Luca Diamont listed the property. The Beverly Hills Estates’ Marco Salari and Brent Watson represented the buyer.
The residence was designed by renowned architect Hagy Belzberg. Called “Screen House” due to its handcrafted, porous facade of custom-molded composite blocks, the fully furnished home has a subterranean courtyard with olive tree, chef-caliber kitchen, entertainment suite, elevator and spa-inspired amenities. The basement boasts a screening room, sauna, steam room and gym. The original asking price, on Jan. 13, was $19.5 million, per Salari.
Three months earlier, 628 25th Street sold for the same sum, but at a lower price per square foot. At 7,692 square feet, the home with six bedrooms and nine bathrooms went for $1,892 per square foot. Features at 628 25th Street include a floating staircase and an elevator, a formal living room centered around a floor-to-ceiling stone fireplace, a chef’s kitchen, a butler’s pantry and a temperature-controlled wine fridge. Smith & Berg’s F. Ron Smith and David Berg marketed the property. The Agency’s Jaime Cuevas worked on behalf of the buyer.
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