The famed Los Angeles property is being listed for $180,000,000.
Less than a year after selling for $90 million, California’s historic Owlwood Estate is back on the market, listed at twice the price for which it was just purchased. The 2016 sale of the home was the second largest in Los Angeles county history, only behind the June 2016 sale of the Playboy Mansion for $100 million. If it’s sold for close to its listed price of $180 million this time, it could surpass that current record. New to the listing — and a contributor to the price tag — is the option to subdivide a portion of the 10 acres into buildable parcels or additional homes, a development that will be overseen by Plus Development Group.
The home is being sold by Sturmer Pippin Investments, LLC, an affiliate of developer Woodbridge Luxury Homes — and as of right now, nothing has been done to update the Holmby Hills mansion since its purchase. “We have hired the best of the best to put together a redevelopment plan which will boost the property’s value while maintaining the architectural integrity of the home’s origin,” says Bob Shaprio, head of Sturmer Pippin Investments and CEO of Woodbridge Luxury Homes. A contracted team of renowned architects, including Meyer Davis Studio and KAA Design Group helped establish a redevelopment plan that would convert the property into “one of the greatest residential estates in the world.”
For the past three years, Owlwood Estate has dominated our annual Unique Homes Ultimate List — gracing the top 10 list for the most expensive homes for sale on the U.S. market. In 2014, Owlwood bested the rest and was the most expensive home for sale at $150 million. A year later, in 2015, it had dropped to number three on our list and then in 2016 was at number five, still retaining its original listing price. The home did not make our 2017 list this year, but that’s because it officially sold last September for 60 percent of its original listing price — $90 million.
Owlwood Estate’s history began in 1936 when it was designed and built by architect Robert D. Farquhar. The 12,000-square-foot, Italian Revival-style mansion has eight bedrooms, 10 baths, a pool house and swimming pool as well as a tennis court. Some of its former owners include American film actor Tony Curtis and famed music duo Sonny and Cher who purchased the home from Curtis in 1974 for $750,000.
“Nowhere else can you find 10 park-like acres in the middle of Holmby Hills,” Says Tyrone McKillen, co-founder of Plus Development Group. “It’s probably one of the greatest single properties in all of America,” he says of the home, that has a portion of the property backing to the Los Angeles Country Club.
Listing Agent: Mercer Vine co-founder Adam Rosenfeld (who represented Sturmer Pippin Investments in the purchase)
Address: 141 South Carolwood Drive, Los Angeles, CA
See below for a drone video on the property.
Photos courtesy The Hoyt Organization.
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