Our laser focus is riveted on L.A.’s mega-mansion market. So it is with great pleasure that this week we include a transaction at the $100-million mark. The complex deal includes stakes in other properties as opposed to being an all-cash purchase.
For good measure, we’re throwing in some star-powered listings and revolving-door sales involving musicians and actors whose names you will likely recognize. Grab your beverage of choice, get comfortable and enjoy.
Tom Gores, the chairman and CEO of Platinum Equity and owner of the Detroit Pistons franchise, has bought a newly built spec home in the Holmby Hills area of Los Angeles as part of a $100-million deal involving multiple properties.
Gores traded some of his Los Angeles-area real estate holdings, in which he will retain an interest. Included are two undeveloped parcels totaling 3.2 acres in Bel-Air. They were recently listed for sale at $47.9 million.
The new house Gores acquired, an estate of more than two acres on the grounds of singer Barbra Streisand’s former Mon Rêve, had been listed for sale since April at $150 million. The sprawling contemporary has some 30,000 square feet of interior space, with 10 bedrooms and 20 bathrooms in the main residence and several guesthouses.
The master suite itself measures 5,300 square feet — roughly twice the size of the average U.S. home — and opens to a heated covered patio.
Among other $100-million worthy features are a theater complex, a spa with a cascading indoor water wall that flows into a lap swimming pool, a hair salon, a private hiking trail, two infinity pools and a 10-car garage.
Courtesy of: LA Times, Neal J. Leitereg and Lauren Beale