Built in 1936, the historic, Tuscan-style Owlwood Estate in Holmby Hills sits on 12,200 square feet.
Douglas Elliman, a national residential real estate brokerage, and Mercer Vine, a Los Angeles luxury real estate company, recently announced the sale of the historic Owlwood Estate in Holmby Hills. The property, totaling over 10 acres with a 12,200-square-foot residence, was designed by architect Robert D. Farquhar. The sale, which was closed on September 16th for $90 million, is one of the highest-valued residential real estate deals in Los Angeles County.
The estate features a main house, which was deemed the largest private residence in Los Angeles when it was built in 1936, and two additional adjacent lots that complete the 10-acre estate. “Rarely has there existed an estate that combines a truly legendary past with even greater future potential,” said Mercer Vine founding principal Adam Rosenfeld, who also notes that this deal ensures that the estate will remain part of Los Angeles history in the future.
“Owlwood Estate is undoubtedly the crown jewel of Holmby Hills,” said Stephen Kotler, chief revenue officer of Douglas Elliman, “Considering this property’s size and storied past, we leveraged Douglas Elliman’s highly-connected network in order to secure the most qualified buyer.”
The estate has had many notable owners in the past including Tony Curtis, Sonny & Cher, Hotel Bel-Air founder Joseph Drown and 20th Century Fox co-founder Joseph Schenck.
“The Owlwood Estate has been the unchallenged symbol of uber-luxury since being built during the Great Depression, and we will keep it that way for another 80 years,” says Bob Shapiro, head of Sturmer Pippin Investments, the buyer of the Owlwood Estate, and CEO of Woodbridge Luxury Homes. Shapiro notes that the company plans on honoring the property’s legendary past by making sure it remains the definition of luxury living.
Photos courtesy of Mercer Vine.