Last year, the “Owlwood Estate” sold for $90 million as the second largest home sale ever in Los Angeles, at that time. Now, it’s back on the market for double that price, $180 million, the Los Angeles Times reported.
Designed by architect Robert D. Farquhar, the 1936-built residence, which includes two additional adjacent lots, in Holmbly Hills was purchased by Sturmer Pippin Investments, LLC in 2016.
“The buyer acquired the property at an incredible price and the international interest that resulted in the sale prompted us to test the market to determine the estate’s true value,” explains listing agent Adam Rosenfeld, co-founder of Mercer Vine.
The 12,200-square-foot, exquisite Tuscan-style home is sited on over 10 acres, consisting of three parcels. One is vacant; another includes a guesthouse, a sunken tennis court, and a swimming pool; and the third has the residence.
All of the parcels were combined in 2002 by late billionaire Toland Arnall, founder of Ameriquest Capital Corp., and his wife Dawn. The property can be subdivided into buildable land.
American rapper, Jay-Z, hosted ROC NATION’S annual GRAMMY Brunch Party at the Owlwood Estate earlier this year.
“It’s almost impossible to find a 10-acre parcel anywhere in Los Angeles, let alone the heart of one of the city’s top luxury neighborhoods,” Rosenfeld says.
Among the estate’s roster of illustrious owners are actor Tony Curtis, pop duo Sonny & Cher, Hotel Bel-Air founder Joseph Drown, and 20th Century Fox co-founder Joseph Schenck.
Images courtesy of Mercer Vine
