Interested in the latest news in celebrity real estate in Los Angeles? Here’s a look at a few things that have been taking place in LA lately.
Beyonce and Jay Z Lose Bid on Los Angeles Homes
Beyonce and Jay Z continue to struggle to purchase their first Los Angeles home as the power couple recently lost out on a bidding war for a fancy 23,000-square-foot mansion. After living in the city for more than a year in various hotels and rental mansions, the couple tried to purchase the $85 million home only to have it purchased by Markus Persson, the creator of Minecraft. Shortly after, the couple lost out on a $49 million bid on an eight-bedroom, 10-bathroom home on Hillcrest Drive. Fashion designer and director Tom Ford put in a $50 million bid, however, thereby scooping the house out from beneath them.
Tom Cruise Sells Beverly Hills Home for $40 Million
Just last year, actor Tom Cruise sold his villa in Laurel Canyon. According to reports, he has now sold another Los Angeles property for $40 million. The large, stone mansion was situated on more than one acre of land in Beverly Hills. Interestingly, the celebrity has also recently put a $59 million compound in Telluride, Colorado on the market as well.
Records indicate that Cruise did quite well for himself with the Beverly Hills transaction. While he was asking for $45 million to $50 million and sold the home for only $45 million, he and then-wife Katie Holmes paid only $30.5 million when they purchased the home in 2007. Therefore, the actor still managed to make quite a decent profit.
Built in 1937, the Beverly Hills home sits on a 1.21-acre flag lot off of Coldwater Canyon Drive. The 10,000-square-foot home boasts multiple wings and a gray stone interior with seven bedrooms and nine bathrooms. Other amenities include a swimming pool, a fountain the size of a swimming pool, a tennis court, a couple guesthouses and a playground. Private equity firm owner and billionaire Leon Black, reportedly purchased the home from Cruise.
Home of Warner Bros. Co-Founder Hits Market for $5.575 Million
Originally completed for Harry Warner, who was the co-founder of Warner Bros. studios in 1924, a seven-bedroom Georgian Colonial in Hancock Park has been put on the market for $5.575 million. The home was designed by architect A. Burnside Sturges specifically for Warner, who sold the home two years later to finance The Jazz Singer. The film is recognized as one of the first “talkies,” which ultimately brought an end to the silent film era. The 5,600-square-foot house has since changed hands many times.
Features of the home include a two-story entryway and a sweeping staircase featuring gilded banisters. The home also boasts a formal dining hall, a lounge, a screening room and a master bedroom with a fireplace and private sitting area. Amenities resting on the more-than-a-half-acre estate include a swimming pool, a tennis court and a pool house. The last time the home was sold was in 2010 for $2.95 million.
These are just a few of the celebrity real estate stories circulating around Los Angeles. If you would like to know more about Los Angeles or real estate, contact our team of luxury real estate experts. We specialize in properties in the most exclusive communities of Los Angeles and Southern California.
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(all data current as of 10/18/2017)
Listing information deemed reliable but not guaranteed. Read full disclaimer.