The Solar Drive pink elephant house, aka the Wedding Cake, aka the Runyon Canyon Clubhouse, has been nothing but trouble since it first came into the world in the mid-nineties, and now its new owners think there should be three more just like it on the edge of Runyon Canyon. The house's first owners divorced and left it abandoned and unfinished; later owners got caught up in all kinds of legal trouble and bankruptcy; eventually the house became "a drug den, a crime magnet, and a fire trap," as one neighbor put it. And meanwhile hikers have innocently traipsed past on what seems like a lovely Runyon Canyon trail, but is actually private property. The house sold in late 2011, apparently to an Aliso Viejo private equity firm called Fort Ashford Funds, for $500,000 (as part of a multi-property sale, according to Redfin), and now the new owners have gated that heavily-used trail and filed plans to prep the property for more megamansions.
Fort Ashford wants to subdivide the land--16.4 acres--into four parcels, with one for the existing house, one for a new single-family house, and two with "no current plans for construction," according to a land use permit application (pdf) filed with the city in early October. (Maybe they want to wait on those last ones until they actually manage to unload the pink elephant, which we're pretty sure has never been occupied--it's been listed since July, along with all this land, at $9.888 million.) They also want to build a 24-foot-wide private streetconnecting to Solar Drive and stretching beyond this property to the 3.8-acre promontory that they also appear to own.
Fort Ashford also says they want to "dedicate a public easement to allow a reroute of a hiking trail," but the application say that easement would be on the east side of Parcel B, which is on the northeast of the property, and on "a small portion" of Parcel C, which is on the southwest of the property by Astral Drive. Their preliminary map (pdf) doesn't clear up at all just how that might work.
Megan Ellison, film producer and the daughter of Oracle chief Larry Ellison, has sold 3 homes that she made into a compound in the Bird Streets. She sold one house (9280 Nightingale Dr.) to Gateway cofounder Ted Waitt for $20.5 million, and last month she sold the remaining two house (9262 & 9258 Nightingale Dr.) to Ashley Tabor, son of British bookmaker Michael Tabor, for $26.25 million. That's a total of $46.75 million, basically just for the land as both are set to be torn down, much of which is too steep to actually build on. There are rumors Megan Ellison is supposedly looking for a new house "in the $20 million range".
Elon Musk, founder and owner of Tesla and SpaceX seems to have a thing for old fashioned twentieth century architecture in Bel Air. He previously bought his first estate on Chalon road last year for $17 million. Now, Elon Musk has purchased the house next door, formerly owned by Gene Wilder. The three-bedroom sits right above the Bel Air Country Club's thirteenth green and fourteenth fairway, and comes with a pool and guesthouse. The house was listed for $7,995,000 but must paid $6,750,000 for it.
This area of Bel Air, also considered Billionaires Row has seem an enormous amount of action lately. Michael Strahan just sold his house down the road Billionaire and Real Estate developer Bruce Makowsky for $11,000,000. Makowsky tore it down.
Founded in 1923 by the American Oil multi-millionaire and real estate developer, Alphonzo E. Bell Sr, Bel Air is known to be one of the most affluent communities in Los Angeles. Bel Air, together with Beverly Hills and Holmby Hills, forms the Platinum Triangle.
Residences vary from modest ranch style house, to large mansions. The higher up the hill, the smaller lots and houses. Multi family housing is not permitted and ordinances regarding architectural styles and lot sizes help to preserve the area.
David Geffen, Kim Kardashian and Kanye West, Adam Sandler, Renee Zellweger and Meg Ryan are just some of the famous residents that reside in Bel Air.
In June of 2011, Candy Spelling sold her famed Spelling Manor for 75 million to Formula 1 aire Petra Ecclestone. It was the biggest sale in the country that year.
As one of the most prestigious locations in Los Angeles, the Hollywood Hills boasts some of the most unique and beautiful homes in the world. The allure is complimented by it's privacy, sprawling views, and central location to the rest of the city. Homes prices are very attractive in allowing a very diverse community. Celeberties, CEO's, Doctors and Teachers all call this neighborhood home.
Finding the right Hollywood Hills real estate agent can be the difference in achieving a clients satisfaction. In 3 years Sam Real has been involved in over $200 million dollars in transactions. His ability to negotiate prices and analyze property is know my clients and colleagues alike.
To find out more about the latest market trends, sold properties, new listings or about the Hollywood Hills real estate market make sure to visit Sam Real's website.
The Bird Streets first became a famed location when the Beatles George Harrison wrote "Blue Jay Way". Of late, this small premiere location tucked in the Hollywood Hills just north of the Sunset Strip has become known for it's celebrity residents and sprawling Los Angeles views. Leonardo DiCaprio, Keanu Reeve And Jennifer Aniston are just some of the celebrities that call the Bird streets home.
The close proximity to Beverly Hills as well as it's short distance to Hollywood makes Blue Jay Way, Oriole Dr., Flicker Place, Thrasher Ave and Skylark Lane some of the most highly desired streets in Los Angeles.
The home prices in the Bird streets are some of the highest that can be found anywhere in the LA area, including Beverly Hills and Bel Air. Home sales on average sell in the area of $1,500 to $2,000 a square foot, even if the home is a complete renovation project. Prices range between $1,500,000 and $20,000,000 and increasing every day.
Behind the gates of North Beverly Park lies 52 of the largest, most expensive mansions not only in Los Angeles but in the entire United States. Established in 1990 the sprawling 250 acres was first planned to be a golf course named after Dean Martin. Developers Elliot Gottfurcht and Brian Adler later decided the beautiful landscape would be better used as one of the most affluent neighborhoods in the world.
Eddie Murphy, Sylvester Stallone, Denzel Washington, Barry Bonds, Mark Wahlberg and Rod Stewart are just some of the well established names that call North Beverly Park home.
How much would it cost you to become a resident at this community? Prices currently range between $20,000,000 and $100,000,000.