In the exclusive neighborhoods in and around Los Angeles, hardly a day goes by that a celebrity-to-celebrity home sale doesn’t occur. However, the recent sale from TV personality Ellen Degeneres to tech billionaire Sean Parker is truly a remarkable sale, even in the high-luxury, celebrity market.
Degeneres has sold a legendary Los Angeles Westside property known as the Brody House for a reported $55 million to Napster co-founder in an ultra-exclusive, off-market deal. It was a good sale for Degeneres who picked up the property just last year for $40 million and made a hefty profit after just a few months of ownership.
The Los Angeles home located at 360 S. Mapleton Drive is so luxurious that its known locally as a trophy home. It was custom built in 1950 for real estate developer Sidney Brody and his wife, modernist art collector, Frances Brody. Four years ago the property sold for $15 million to an investor who spent a painstaking amount of time and money to modernize the home and exquisite grounds.
The home itself has 11,511 square feet of living space and no less than an impressive nine bedrooms. Floor-to-ceiling glass walls abound in the airy home, which is designed in the midcentury style. The grounds of the property span 2.3 acres and feature a swimming pool, a pool/guesthouse and tennis court tucked away among the privacy of shady trees and high walls.
Los Angeles’ Celebrity Real Estate Market is Hot
Everyone’s favorite television host and the young genius behind one of the most controversial and profitable tech startups in the world aren’t the only celebrity personalities getting in the Los Angeles real estate game. Supermodel Heidi Klum has also recently listed her Brentwood home for $25 million.
The 15-year-old estate is a study in class and solitude with 8.5 acres of manicured rose gardens, lawns, a koi pond, hiking trails and an infinite-edge swimming pool. The main home on the property features 12,300 square feet of living space and includes a domed library with fireplace, a wine temperature-controlled room and a master suite outfitted with a terrace and his-and-her closets that Klum had added during her residency.
With these huge properties hitting the market, the real estate climate in Los Angeles is looking hot right now. According to Altos Research, a California-based real estate analytics company, the median single-family home is getting a big boost from these luxury listings. As of July 11, the median home value in Los Angeles has reached a yearly high of $653,248. Home prices look to have leveled off, but with the celebrity market making major moves, luxury sales are likely to bring these values even higher in the weeks and months to come.
If you are interested in Los Angeles luxury real estate, please don’t hesitate to contact our team of property experts. We’d love to show you around.