This European-style home is located on coveted Bird Street in the Hollywood Hills. The sale marks a breakthrough in a market crippled by high interest rates and mansion taxes.
exist Inman Connect Las Vegas, July 30-August. On January 1, 2024, the noise and misinformation will be cut away, all your big questions will be answered, and new business opportunities will be revealed. join us.
A Los Angeles-spec mansion on coveted Bird Street in the Hollywood Hills has been purchased by a buyer from Asia for $62.8 million, marking the city’s largest sale to date. wall street journal the report said.
The 23,000-square-foot estate was developed by Brandon and Deborah Shainfeld of Alpha Empire Designs. The couple originally paid $11.2 million for the property in 2017, then demolished the existing home and built a new European-style estate.
The spec home went on the market in October for $78 million and is represented by Kurt Rappaport and Andreas Elsenhans of Westside Estate Agency. Helen Chong and Susanna Leung of Haylen Group represented the buyer.
The buyer is reportedly unidentified but was reportedly involved in another recent large deal in Los Angeles The Wall Street Journal A mansion on Tanager Way was purchased in February for about $23.7 million, sources said.
The estate includes eight bedrooms and 18 bathrooms, spread across the main house and guest house. This gated hotel features numerous courtyards that maintain a private atmosphere while offering city views.
The house has a Parisian feel with its grand arches, courtyards, manicured lawns and shrubbery. The garage door is painted blue, a reference to Chanel’s flagship store in the City of Lights. The venue also features an infinity pool, outdoor kitchen and pickle ball court.
Inside there is a two-story entryway with a wide staircase. The home also features a fully equipped spa with gym, sauna, cold plunge pool, and lap pool; separate chef’s kitchen; home theater; and library/home office.
In addition to co-founder of Alpha Empire Designs, Brandon Shainfeld is also a managing partner of Platinum Mile Ventures, a venture capital firm that invests in food and consumer technology companies.
The property also has some celebrity connections, having been owned by famed director John Schlesinger, who has made films such as midnight cowboy and Sunday bloody Sundaywait.
Since the new “mansion tax” and higher interest rates took effect last April, there were very few transactions over $50 million in Los Angeles last year. Data from Douglas Elliman and Miller Samuel Shows home sales in Los Angeles have been declining for the past eight consecutive quarters.
Get Inman’s Luxury Lenses Newsletter Delivered directly to your inbox. Every Friday is an in-depth look at the biggest news in high-end real estate. Click here to subscribe.
Email Lillian Dixon
