Douglas Elliman Announces The Sale Of Holmby Hills Estate For $90 Million
Sale of iconic property known as Owlwood Estate marks the second highest residential sale in Los Angeles County since 2015
LOS ANGELES, Sept. 16, 2016 /PRNewswire/ -- Douglas Elliman, a national residential real estate brokerage, announced today the sale of Holmby Hills' legendary Owlwood Estate for $90 million to Sturmer Pippin Investments, LLC. The 10-acre property, located at 141 South Carolwood Drive in Los Angeles, includes an iconic approximately 12,200-square-foot residence, which has been the home to many of Hollywood's elite. The sale marks one of the highest-valued residential real estate transactions in Los Angeles County to date, as it did not include any extra considerations such as furnishings and artwork.
"Owlwood Estate is undoubtedly the crown jewel of Holmby Hills. Considering this property's size and storied past, we leveraged Douglas Elliman's highly-connected network in order to secure the most qualified buyer," said Stephen Kotler, chief revenue officer of Douglas Elliman. "Our active global presence combined with our expertise in the neighborhood and real-time market research, allowed us to close on this landmark sale, the second largest in LA since 2015."
The main house, built in 1936, was designed in the Italian Renaissance style by architect Robert D. Farquhar. At the time of its completion, it was deemed the largest private residence in Los Angeles and has since incorporated two additional, adjacent lots to create the sprawling 10-acre estate it is today. Over the last 80 years, the property has had a lengthy list of influential owners, including Sonny and Cher, Tony Curtis, Superior Oil Founder William Keck, 20th Century Fox Co-Founder Joseph Schenck and Hotel Bel-Air Founder Joseph Drown.
Properties of this magnitude are not unfamiliar to the Elliman team. In the firm's Western Region alone, headquartered in Beverly Hills, Elliman agents hold listings for celebrated luxury properties throughout Southern California and Aspen. Notable properties include John Lautner's Stevens' House in Malibu Beach; Pierre Koenig's last built project, LaFetra Beach House; and Frank Gehry's famed compound, Schnabel House; in addition to the most expensive listing in Colorado, Bill and Bridget Koch's 82-acre Elk Mountain Lodge.
Ann Dashiell of Douglas Elliman's Beverly Hills flagship office was Owlwood Estate's listing agent. Adam Rosenfeld, founding principal of Mercer Vine, represented the buyer.
About Douglas Elliman Real Estate
Established in 1911, Douglas Elliman Real Estate is the largest brokerage in the New York Metropolitan area and the fourth largest residential real estate company nationwide. With more than 6,000 agents, the company operates approximately 81 offices in Manhattan, Brooklyn, Queens, New Jersey, Long Island, the Hamptons & North Fork, Westchester, Greenwich, South Florida, Colorado and Beverly Hills. Moreover, Douglas Elliman has a strategic global alliance with London-based Knight Frank Residential for business in the worldwide luxury markets spanning 59 countries and six continents. The company also controls a portfolio of real estate services including Douglas Elliman Development Marketing; Manhattan's largest residential property manager, Douglas Elliman Property Management with over 250 buildings; and DE Commercial. For more information on Douglas Elliman as well as expert commentary on emerging trends in the real estate industry, please visit www.elliman.com.
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SOURCE Douglas Elliman Real Estate
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