The Agency

Industrial-Chic Meets Striking Ed Niles-Design in Malibu

This is not your typical beach house. Although the home can be found in the seaside enclave of Malibu and does indeed offer sweeping ocean views from every room, that’s where any resemblance to a “beach house” ends.

Instead, this visionary structure designed and built by contemporary architect Ed Niles in 1999 looks as if it was plopped atop a canyon from the next millennium, dazzling with its sheer size, geometric shapes, and eye-catching glass and steel façade.

“This home was completed 15 years ago, but it feels like it is from the future or outer space and is one of the most architecturally timeless designed homes I have ever seen,” says Sandro Dazzan of The Agency, who is listing the property for $5.795 million. The most interesting aspect, according to Sandro Dazzan? The way the home is made up of five separate structures that are linked together, but inside flows seamlessly all on one level.

Found at 21757 Castlewood Drive—accessible via a private gate at Rambla Pacifico and Pacific Coast Highway—the three-bedroom estate was updated in 2004. Expect almost 3,000 square feet of open living space rife with refined touches throughout, including limestone flooring, custom Ed Niles-designed cabinetry and furniture, an elevator, and an exquisite stainless-steel Bulthaup kitchen.

Yet other standout features include a sumptuous master suite featuring ocean views, a two-story skylight, fireplace, spacious walk-in closet, luxurious bath and an office, plus an additional junior suite in the main house and a detached third bedroom with its own entrance. Outdoors, the 41,145-square-foot grounds are highlighted by numerous seating areas, a private swimmer’s pool and spa, and fully equipped kitchen. A gated motor court and two-car garage round out the home’s unique appeal.

Presented by

SANDRO DAZZAN
OF THE AGENCY
LIST PRICE $5.795 MILLION

Photographs: courtesy of The Agency

Wendy Bowman

Real Estate Market Influencer: Sandro Dazzan

Sandro Dazzan Made in Malibu

There are about 30 listings on Sandro Dazzan’s docket. All are in Malibu and range from an $85 million mansion on Malibu Crest Drive—known as the “New Castle”—to a $5.8 million Modernist stunner by architect Ed Niles.

Dazzan has an equal number of leases too, for the person who wants to lounge at the Malibu Colony for $100,000 per month, or stretch poolside at a villa overlooking La Costa Beach for about $30,000 per month. Ask him how he does it, and the answer is as easygoing as the man himself. “It just kind of falls into place,” he says with a laugh before turning serious. “It’s about having a good team, and being responsive and always being available.”

“When you sell a $50 million dollar piece of dirt, once you look back at it, you realize, ‘yeah, it was a pretty huge accomplishment.”

RECORD

Sandro set a Malibu sales record in in 2011 for the highest residential sale, and again in 2017 for the highest land sale in Malibu history

SALES TAB

Has closed more than $750 million in home sales

LISTED

Included among Forbes’ “30 Under 30” Real Estate list in 2011

The last two are natural to the Malibu native, who was raised in real estate (his mother is super agent Irene Dazzan-Palmer) and chose the profession after leaving UCLA, economics degree in hand, and understanding that the world of finance might not be his cup of tea. “I realized if I went down the banking path, being in a cubicle 10 or 12 hours a day wasn’t really a good fit for me, ” says Dazzan, an outdoorsman who counts surfing and hiking among his favorite pastimes.

Real estate turned out to be a sage career move. Dazzan’s track record includes last year’s record-breaking sale of 24 ocean-bluff Malibu acres to developer Scott Gillen—a sale that felt like business as usual while it was happening. “When you sell a $50 million dollar piece of dirt,” he says, “Once you look back at it, you realize, ‘Yeah, it was a pretty huge accomplishment.’”

Despite having plenty of options, Dazzan chooses to live and work in Malibu, a place he refers to as “a passion of mine.” It’s also a place that has changed mightily in the past five years or so. Among the changes are increased amenities catering to and beckoning newcomers from all over the world, like the forthcoming Whole Foods and recently opened Soho House. “I travel all over the world,” says Dazzan. “You mention Malibu and it’s a global brand. Everybody knows it. That’s pretty exciting coming from the little sleepy beach town that I grew up in.”

“The Lake House” at 3350 Serra Road in Malibu

It’s a town where Dazzan grew up playing Little League at Malibu Bluffs Park overlooking the ocean, and where he’s now raising his own family. It’s also an area he knows like the back of his hand. “Malibu is a very technical market,” he points out. “About 27 miles of coastline, and every half mile is completely different than the next.” There’s coastline, canyons and bluffs, and a slew of different neighborhoods. “You need somebody who understands every single nook and cranny,” says Dazzan, who knows how wind and sand will move on a specific property, or the position of the sunlight throughout the year.

“I’m very grateful for what I have, and where I live,” says Dazzan, whose appreciation for the place has been reinforced by his global travels, particularly to locations much less Malibu-like. Working with younger agents at The Agency—a collaborative firm that Dazzan describes as “a refreshing environment”—who are hungry and have a similar yen for Malibu is one of the ways he looks to shape its future. “I want to help them grow so they can continue this legacy of our special little beach town.”

Sandro Dazzan  |  The Agency

22601 Pacific Coast Hwy #103,  Malibu, CA 90265

424.249.7040   |  theagencyre.com

Constance Dunn

A Tom Petty Paradise — 4626 Encino Avenue

This Encino residence located at 4626 Encino Avenue built to late musician Tom Petty’s specifications in 1989 has been newly refurbished, complete with soaring ceilings boasting driftwood beams and massive windows offering views of the distant canyon, towering specimen trees, and a serene backyard showcasing a waterfall cascading from a natural stream into a pool.

“The reaction of buyers entering the property is that they truly feel the inspiration from Tom Petty that brought this amazing home to life,” says Craig Knizek, who is co-listing the gated, six-bedroom property at 4626 Encino Ave., in the Rancho Estates neighborhood, with Ninkey Dalton, both of The Agency, for $4.995 million.

6 Bedrooms  |  10 Baths |  11,483 sqft  |  37752 sqft lot
Click to view the full MLS Listing

Click to view the full MLS Listing

Inside, expect more than 11,000 square feet of living space featuring high-end finishes, including herringbone tile and Carrara marble. “This house checks every box a luxury buyer desires,” adds Dalton. “Privacy, land, every imaginable amenity, plus that intangible sense of curated design at such a high level.”

View the Full MLS Listing |  Photographs Courtesy of The Agency

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Top-Tier Vistas at Tigertail

This stunning new contemporary abode is sleek and sexy as it is warm and comfortable

“This home is truly a haven where the owner will wake up each morning and go to sleep each night feeling peaceful,” says Cindy Ambuehl, who is co-listing 800 Tigertail Road in Brentwood with Dan Urbach, both of The Agency, for $10.899 million.

“It has everything that encompasses both comfort and today’s lifestyle, checking all the boxes without feeling typical. There is no detail spared…nothing was compromised in the design and build of this one-of-a-kind masterpiece.”

 

Constructed by Huntington Estates Properties in 2018, the seven-bedroom, eight-bath residence features 7,890 square feet of bright and open living space. Expect high-end details, including Ipe wood; backlit floating ceilings; automated, floor-to-ceiling glass Fleetwood pocket doors that open to a massive deck overlooking a private backyard and endless city and canyon views; a 10-foot mahogany front door; three-story floating staircase; and custom lighting fixtures. Not to mention a smart-home system.

Highlights include an expansive living room emphasized by a towering fireplace; a sleek chef’s kitchen with top-of-the-line Wolf appliances and a butler’s pantry; an elegant dining room with a seven-foot-long onyx bar with lavish waterfall edge; impressive master suite with a duo of walk-in closets, steam shower, fireplace and balcony; a fully sound-proofed media room with a 130-inch screen; glass-encased wine cellar; and gym.

 

Outdoors, an 1,100-plus square foot rooftop deck sports a spa, fire pit and 360-degree views from downtown to the Pacific, while the 13,020-square-foot lot boasts a cascading infinity-edge pool and spa, built-in barbecue and putting green.

“Usually, with upper Tigertail, you have to trade off having a yard for having a view,” says Ambuehl. “This property gives you both! It has 360-degree city and ocean views, as well as a huge yard. It has the best of both indoor-outdoor living.”

Written By Wendy Bowman | Photos Courtesy Of Sky Photography LA

Presented By

Cindy Ambuehl & Dan Urbach, The Agency
List Price $10.899 Million

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Cindy Ambuehl headshot

Real Estate Market Influencer: Cindy Ambuehl

Cindy Ambuehl headshot

Cindy Ambuehl

COMPASS

DIGS dives into the stories behind some of the world’s best real estate professionals. Market Influencer weaves a narrative journey about agents, entrepreneurs and influencers—and what drives them to succeed. This week we tell Cindy Ambuehl’s story, a social media maven at COMPASS.

 

Cindy Ambuehl, the LA real estate star points out the power of social media and the forever power of caring for your clients.

Cindy Ambuehl was already accustomed to high-profile success when she hit her stride as a real estate agent. “I had a 22-year run,” she says her former career in front of the camera. “I was very blessed as a sitcom actress, then I ended on JAG for three years. It was fabulous. But while they were all taking their studio bonuses and buying matching motorcycles and jet skies and Aston Martins, I was out buying real estate.” Ambuehl credits her pragmatic streak to a modest upbringing in Orange County with a police officer father and housewife mother. “I was raised that the simple things in life are the important things. I didn’t need all that to make me happy.”

Nowadays, Ambuehl is now at Compass, formerly partner at The Agency and sells top-tier real estate mainly on the Westside, where she creates much of her business due to a robust social network. “My clients seem to hug Sunset Boulevard,” she says with a chuckle, referring to the ultra-luxe corridor running from Malibu to Beverly Hills.

When clients are following my stories and my posts—I do funny videos with my kids and my husband—people feel like they know me. It creates a feeling of familiarity and trust. 

Much of her approach to real estate involves a smart melding of new and time-tested practices. “In 2018, it’s done differently and we love that,” she says, referring to the practical benefits of technology. In the process, she points out, sometimes the focus gets blurred on a real estate agent’s most important function—to help shepherd one’s client through an important, often deeply personal purchase. Don’t let that happen is her advice, particularly to newer agents. “Don’t ever attach yourself to the outcome, because then you’re not honoring the process that gets you there,” she notes. “If you honor the process, the outcome will happen.” The process in this case: “Caring for our clients, period.”

Ambuehl’s media acumen can be seen in one of her current listings, a glossy Brentwood showcase. Listed at just under $11 million, and a few minutes north of Sunset on North Tigertail Road, the home has piqued the interest of pop-rock royalty Justin Bieber, who Ambuehl hosted a showing for in early May. The Los Angeles Times pointed out its “It” factor when they listed it as Home of The Week. Much of this is documented on her Instagram feed, along with her live clips from the fun shindig thrown to premiere the home.

800 Tigertail_Cindy Ambuehl

Cultivating client relationships is where Ambuehl shines. Her nearly 40,000 social media followers get to know her via frequent postings spanning real estate business, travels and a full and animated home life that includes her husband, actor Don Diamonte, and their seven boys. “Social media gives buyers the chance to put a personality to the name,” she says. “When clients are following my stories and my posts—I do funny videos with my kids and my husband—people feel like they know me. It creates a feeling of familiarity and trust.” Social media was a tool she was initially egged on to use by her sons, and her faith in its business value was cemented when a single post led to a referral from Dallas and a subsequent sale. “He saw one of my posts and within 21 days I had sold the guy a $10 million house.”

 

Cindy Ambuehl

COMPASS
310.321.9148 | cindyambuehlgroup.com

 

Written by Constance Dunn

 

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Constance Dunn

Living Aloft – 9318 Nightingale Drive

9318 Nightingale Drive ≫ This architectural masterpiece high atop L.A.’s Bird Streets checks all the boxes for timeless, sophisticated living

[cs_dropcap column_size=”1/1″ dropcap_style=”box” dropcap_size=”0″ dropcap_color=”#fff” dropcap_bg_color=”#d7df21″]The locale of this award-winning, contemporary home hints at its ethereal appeal. Situated at 9318 Nightingale Drive—in the coveted Bird Streets of Hollywood Hills—the concept and design offer an alluring, high-quality tone. Think a museum-quality exterior sporting custom Swisspearl cement panels and geometric-style louvres paired with chic yet inviting interiors punctuated by soaring walls of glass that allow for sweeping city and ocean views.[/cs_dropcap]

 

“My vision was to create an architecturally significant home that would withstand the test of time, both aesthetically and in its performance,” says L.A. developer Mauricio Oberfeld, who built the house in 2010 to serve as his family’s residence. “I didn’t want it ever to be thought about as a house of a specific era, and instead to be looked at as timeless.”

Now on the market for $29.95 million—co-listed by Mauricio Umansky and Alejandro Aldrete of The Agency—the property features 9,000 square feet of Zoltan E. Pali-designed living space showcasing seamless indoor-outdoor environs, Austrian-textured wood flooring, and stone- and wood-paneled walls.

 

Among the standout features is a glass-enclosed master suite equipped with electronic shades and sliding glass doors that open to a spacious terrace; custom-fabricated Italian kitchen by Del Tongo; temperature-controlled wine cellar; tiered movie theater with a 13-foot screen; and spa with a sauna, steam and massage room.

Amid the expansive grounds designed by renowned landscape architect Andrea Cochran, an abundance of Italian silver travertine terraces flow to a grassy lawn, 70-foot, infinity-edge pool and Jacuzzi.

Written by Wendy Bowman  |  Photography

 

Presented by

MAURICIO UMANSKY & ALEJANDRO ALDRETE OF THE AGENCY

LIST PRICE $29.95 MILLION

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Letter-Perfect-Lair

The former Beverly Hills residence of longtime Wheel of Fortune co-host Vanna White has entered the market for $47.5 million.

75 Beverly Park LN

BEVERLY PARK | 8 BEDROOMS | 10 BATHS | 14,554 SQ. FT.

“This home has 14,554 square feet of interior living space spread over eight bedrooms, 10 bathrooms, a gym with a mini-spa and a basement made for entertaining,” says listing agent Mauricio Umansky of The Agency. Found in the exclusive guard-gated community of Beverly Park at 75 Beverly Park Lane—on 5-plus acres rife with lush landscaping and towering palm trees—the Tuscan vineyard estate was built in 1997.

 

Among the other highlights: a wine cellar with all of the wine produced in the property’s private vineyard; a resort-style pool and spa; and a massive motor court boasting a water fountain and a four-car garage.“One highlight to note is the fine details, including vaulted ceilings, arched windows, floor-to-ceiling French doors and a unique set of iron-clad staircases.” 

Wendy Bowman

Architectural Jewel

MALIBU GATED BEACH FRONT – 3,336 SQ. FT.

Written by Wendy Bowman

$11.8 Million

Academy Award-nominated actor Edward Norton—best known for his work in films such as American History X and Fight Club—recently purchased the iconic John Lautner-designed Stevens House in Malibu for $11.8 million. Found at 78 Malibu Colony Road—on 37 feet of beach-front property in the gated Malibu Colony community—the concrete, wood and glass home was built in 1968 and has since been completely restored.

Among the special features of the modern five-bedroom, 3,336-square-foot abode is sustainable cork flooring throughout; a horseshoe-shaped staircase; massive custom glass and Douglas fir sliding doors; a basement sporting a screening room, sauna and exercise room; a covered pool; and a solar energy system. Perhaps the most striking feature is the dazzling sculptural façade showcasing two half-catenary concrete curves, facing opposite directions, which were employed to resemble crashing waves. The home was listed by Tracy Maltas of Douglas Elliman.

 

 

 

MUSICAL HOMAGE – ENCINO SOUTHERN COLONIAL-STYLE 10,600 SQ. FT.

$8.75 Million

Written by Wendy Bowman | Photography Courtesy of Douglas Elliman and The Agency

Once home to singer-songwriter Smokey Robinson, this gated Encino estate has been thoughtfully renovated—all with an eye toward the music great’s supreme style. “The developers maintained the integrity of the unique architectural details,” says Craig Knizek, who is co-listing the property with Billy Rose and Andrea Korchek, all of The Agency, for $8.75 million.

Located at 17085 Rancho St., the Southern Colonial-style property now sports 10,600 square feet of living space highlighted by a home theater, a wine cellar and a gym. Among the seven bedrooms is a master suite boasting an approximately 800-square foot balcony overlooking the entire property. Outdoors, the 67,058-square-foot lot features a boxwood topiary garden, a new pool, a picnic gazebo, and a newly built 1,600-square-foot guesthouse.

DIGS

Magic Touch

East meets West at this bespoke oasis now on the market for $5.9 million

Written by Wendy Bowman

The real estate agents for this glamorous Stern + Kind-designed residence have affectionately dubbed it the “House of Perspectives.” Certainly peering through every single window or wall, or gazing at any reflection on glass, leads to discoveries that feel like magic—even in the shower.

“It’s one of the few properties we’ve seen where attention has been paid to space, time and form at every level,” says Blair Chang of The Agency, who is co-listing the Italian modernist/Japanese architectural home with Victoria Gureyeva of Aces Up Inc. for $5.9 million.

“Stern + Kind are an innovative studio that specializes in multidisciplinary and multisensory experiential design, having worked in architecture, fashion, product, music, and live experiential and emergent technologies—with an emphasis on engaging all five senses in every design challenge. This property is a perfect example of S+K’s understanding of sight, sound, smell, touch and taste.”

Situated at 7431 Franklin Ave.—in the heart of Hollywood Hills, convenient to Runyon Canyon, restaurants, shopping and entertainment—the two-level residence is a case study for indoor-outdoor living. Think patios boasting wall cut-outs that poetically frame sections of the sky; sun bouncing off the 21-foot-tall perforated brass façade at the main entrance; and a tranquil saltwater pool flanked by a 36-foot-long abstract green wall. A rich, varied textured palette throughout sports subdued colors and artisan-crafted details as a symbolic nod to the five elements (even referenced in the names of plants such as firesticks).

“The materials (leather, custom-mixed Japanese shou-sugi-ban charred wood, concrete, warm white oak, rare and leather-finished marble) and hardware (raw brass, copper and chrome) all tie in to its luxe, brutalist-meets-Zen design,” says Gureyeva.

“It’s the perfect combination of form and function, masculine and feminine, elaborate and subtle.”

Among the wow-factor features: four bedrooms (most notably, a spacious master suite with a walk-in closet and dual outdoor patios with commanding city views), as well as a gourmet chef’s kitchen, an indoor-outdoor living space completed by Fleetwood glass doors and full smart-home technology. Outdoors, the 9,700-square-foot lot also includes five various but connected seating areas completed by meadows of fescue grass and gorgeous drought-tolerant gardens.

“The most unique aspect of the home is its brass façade, which in person feels like an art installation,” says Gureyeva. “The most different aspect is that this is far from a contemporary box—the love and care of every master artisan who worked on it resonates throughout. There is, quite literally, nothing like it on the market in Los Angeles…it tells its own story and invites you to write yours.”

PRESENTED BY

BLAIR CHANG, THE AGENCY AND VICTORIA GUREYEVA, ACES UP INC.

LIST PRICE $5.9 MILLION

DIGS

Going Commercial

Real estate veteran Alexander Koustas spearheads The Agency’s new Commercial Advisory Board

Written by Wendy Bowman

When the co-founders of The Agency, Mauricio Umansky and Billy Rose, found that they were unable to serve their clients’ commercial transaction requirements, their solution was to form a new division to provide comprehensive commercial services, specializing in investment sales, landlord and tenant leasing representation, and strategic asset positioning— adding to the multibillion-dollar firm’s already thriving real estate brokerage and lifestyle practice.

Tapped to head The Agency Commercial Advisory, based in the company’s Beverly Hills headquarters, is industry veteran Alexander Koustas. Here, the skilled negotiator discusses the new division, L.A.’s up-and-coming commercial pockets and more.

Why is the time right to begin a new commercial division in Los Angeles?

With the emergence of L.A. on the global scene with respect to art, fashion and real estate, we believe now is the opportune time to be at the forefront of the commercial space.

What is your focus and goal with the new division?

To not only service our existing clientele base, but also to build a robust landlord and tenant representation platform to compete with the strongest commercial firms globally. The team will include seasoned professionals and leading real estate experts who bring together years of experience in various industry specialties— including development, asset management, investment sales and leasing.

Elaborate on the services the new division offers.

The merging of our respective strengths, coupled with The Agency’s global reach, makes for a truly dynamic and unparalleled partnership in the industry. As we continue to experience rapid growth in Los Angeles, commercial development and real estate ranks high for investors. In addition to being the provider for our clients and their commercial projects, the team will handle leasing, tenant representation and investment sales for office, industrial, retail, medical, special purpose, flex and multifamily spaces.

Tell us about your commercial background and what makes you a great fit to head the division?

I’ve spent years honing a craft in understanding the investment characteristics of commercial property. In my previous role, I was founding member and president of The December Company Inc., a boutique commercial brokerage firm specializing in high street retail, office and industrial leases and sales transactions. Prior to this post, I served as the acquisitions director for BH properties, where I was responsible for the deployment of $100 million in annual acquisitions throughout the Western U.S.; identifying distressed and value-added commercial investments for the company. With this experience, I have since moved into a purely brokerage role, which today enables me to see opportunities (or potential pitfalls) that may face my clients in a future lease or sales transaction. This unique skill set allows me to bring an unparalleled experience level to my clients and the company at large.

What are some of your top listings to date, and why are they significant?

4215 Admiralty Way is a prime waterfront building in Marina Del Rey with 1,400 feet of marina views, large windows and a loft-like ambience, perfect for an upscale restaurant or a unique tech office. 1360 S. Figueroa Blvd.—in the heart of Downtown L.A.— has more than 3,100 square feet of prime retail frontage across from the Los Angeles Convention Center and just minutes from the Staples Center and surrounding amenities. This area [is] part of a completely transforming live, work, play urban metropolis. 5215 Vineland Ave. is a 1,236-square foot mixed-use property in heart of the vibrant NoHo arts district, which is a young, trendy spot. This property has strong immediate demographics and access to robust multifamily density, along with a shared commercial parking lot.

What areas are hot in L.A. right now for commercial?

West Hollywood (always), Highland Park, Glendale/Burbank and Culver City. For example, in West Hollywood we’re seeing a demand for physical fitness use and restaurant space. In Glendale and Highland Park, we’ve seen an increased demand of and shift to upscale retail and boutiques. In Culver City, creative offices and showroom spaces are hot.

Are you seeing any trends in the market?

There’s a strong push towards creative office, open plan and warm contemporary office designs. The traditional office culture is changing the way people want to work and live. Inspired by the tech industry moving into the Westside of the city (Silicon Beach), the greater L.A. market is shifting to more open, bold cohesive work spaces.

Any predictions for what’s ahead for L.A.’s commercial industry?

Continued growth, with a particular push for architecturally efficient work and shopping environments. In addition to the hot areas mentioned earlier, we definitely will be seeing a continuing expansion of commercial retail into secondary and tertiary markets. Additionally, there is a continued movement of greater density in [A]-plus markets. We will see a continued trend in vertical development in high-density areas.

Finally, what does the new division mean for The Agency and L.A.?

As we continue to develop our foothold in L.A.’s commercial real estate market, The Agency is quickly becoming the leader in the industry for residential, new development and the commercial sectors. As L.A. continues to grow at a rapid pace, both commercial real estate and development is a leading investment for investors around the world. The Agency Commercial Advisory will further strengthen the brand and allow the team to be the provider for our clients and their commercial projects. We’re thrilled the commercial department is making a footprint in the city so quickly.

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Historic Makeover

Yesteryear details meet modern accoutrements at this luxurious Windsor Square listing

Written by Wendy Bowman

Designed in 1914 for banking executive Milton Getz by noted architects Sumner P. Hunt and Silas R. Burns Jr.—best known as the creators of L.A.’s Southwest Museum and Wilshire Ebell Theatre—this stately traditional home recently underwent an extensive restoration and addition that combines original period details with contemporary amenities. Expect bells and whistles: wine cellar, theater, guest house, cabana, pool, spa, and smart-home technology.

“What I love about the house is that it retains all the original character of the era but delivers on all of the conveniences one would expect today,” says Billy Rose, who is co-listing the home with Blair Chang, both of The Agency, for $10.950 million.

Situated at 601 S. Windsor Blvd.—in the historic residential enclave of Windsor Square— the four-level, eight-bedroom residence features almost 12,000 square feet of living space rife with designer lighting, hardwood flooring, elaborate moldings, soaring ceilings, and pocket and French doors throughout.

A grand entry leads to the dining, family and formal living rooms, and a gourmet kitchen sports marble countertops, a large center island and professional-grade appliances. The upper level holds a spacious master bedroom suite with a large walk-in closet and four additional bedroom suites, while the basement level showcases a high-end home theater.

Outdoors, one finds a 26,756-square-foot lot highlighted by show-stopping gardens, a barbecue area, pool and one-bedroom guest house with kitchen. In other words, a fortune.

 

PRESENTED BY BLAIR CHANG AND BILLY ROSE OF THE AGENCY

LIST PRICE $10.950 MILLION

DIGS

Capital Assets

From spec mansions to legendary Hollywood estates, L.A. properties continue to net top dollar

Written by Wendy Bowman

A lavish estate has re-entered the L.A. market with a hefty new price tag, thanks largely to the landmark sales of a duo of $100 million single-family homes in the area in 2016. Two of the city’s highest-ever recorded deals, the transactions were handled by The Agency and included the Playboy Mansion in the Holmby Hills section of Bel-Air—purchased by Hugh Hefner’s next door neighbor, Daren Metropoulos, principal at the private-equity firm Metropoulos & Co.—and 301 N. Carolwood Drive—a 38,000-square-foot spec mansion on the grounds of Barbra Streisand’s former Mon Rêve estate in Holmby Hills procured by Detroit Pistons owner, Tom Gores.

Now hitting the market for $129 million after a yearlong hiatus is billionaire real estate investor Jeff Greene’s Palazzo di Amore—a palatial Mediterranean-style estate perched on a 25-acre promontory overlooking the historic Beverly Hills Hotel. Also listed by The Agency, the residence, at 9505 Lania Lane, was crafted by a team that included developer Mohamed Hadid, architect Bob Ray Offenhauser and designer Alberto Pinto.

“We feel now is the perfect time for a house of this grandeur to enter the market,” says Stacy Gottula, who is co-listing the residence with Mauricio Umansky, both of The Agency. “Mr. Greene is motivated to sell because he is spending most of his time now in Palm Beach with his family, and he feels the price of $129 million reflects the current status of the luxury real estate market.”

According to The Agency’s 2016 Annual Report, L.A. saw an increase in average sale prices of single-family residences by about 1.5 percent, along with an increase in demand. Fourth quarter 2016 was a particularly strong period for home sales of more than $5 million, with transactions up 15 percent year-over-year and 4.3 percent quarter-over-quarter. Expect the momentum to continue into 2017, with many new homes just competed in the $100 million range.

“Los Angeles is one of the best places in the world to call home, and each year we welcome more affluent individuals who recognize the appeal of living in this exquisite locale,” says Gottula. “For the most discerning buyers, the warm weather, fine dining and unparalleled entertainment options the city offers are priceless. Unwilling to compromise on the lifestyle, they also seek the finest residences. To meet the demand, we are seeing more developers building spec homes and movement in the resale market.”

Location plays a large factor in determining a price point, with areas such as Beverly Hills, Bel-Air and Malibu commanding high dollar given their reputation and services. The $100 million properties also are situated on larger lots and the majority are new construction, complete with the latest technology and amenities. For the $129 million price tag on Greene’s 12-bedroom, 23-bath Palazzo di Amore, the new owner will get a grand chef’s kitchen with a commercial walk-in refrigerator; a 10,000-bottle wine cellar boasting temperature-controlled rooms for wine storage 

and a large tasting room with stone flooring and vaulted brick-barrel ceilings; and an unrivaled master suite featuring a fireplace with hand-carved wood mantel, sitting area with Juliet balconies, and beautifully finished dual baths with massive showroom-quality walk-in dressing rooms.

Yet other standout features include a Moroccan room sporting custom hand-painted wood panels and a Turkish-style spa featuring floor-to-ceiling iridescent Moroccan tiles. Meanwhile, outdoors, one will find lushly landscaped grounds with terraced vineyards; a tennis court and pavilion; a 128-foot reflecting pool and fountain; and a new two-level, 15,000-square-foot entertainment complex with a DJ booth, revolving dance floor and laser-light system, two-lane bowling alley and game room, theater that seats 50 for live stage shows and movie screenings, and a sun room that opens to a relaxing pool and spa.

For those with deep pockets, Palazzo di Amore is not alone when it comes to expensive homes. Other pricey digs now available include the most expensive home in the U.S.—an extravagant Bel-Air masterpiece at 924 Bel-Air Road built by high-end developer Bruce Makowsky, complete with amenities and bespoke items culled from around the globe and an asking price of $250 million (represented by Williams & Williams Estates and Rodeo Realty)—and The Manor, the former Holmby Hills home of Aaron and Candy Spelling, listed at $200 million by Hilton & Hyland.

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