Billionaire Elon Musk Buys His Neighbor’s Home in Bel Air For $6.75 Million

    Posted by Cristin  |  November 1, 2013  |  7:44 am  |  Tags: , , , , , , , , , , , ,

    Forbes

    Elon Musk

    Bel Air, CA

    Most Known For

    Tesla CEO, also at the helm of SpaceX; previously made a fortune on PayPal

    Home Stats

    3 bedrooms, 4.5 bathrooms, 2,756 square feet, pool and private guest cottage, views

    Price

    $6,750,000

    Billionaire business mogul Elon Musk has just paid $6.75 million for his across-the-street neighbor’s home in ritzy Bel Air, California.

    Musk, who has amassed billions via Tesla, SpaceX and PayPal, currently lives across the street in a home he purchased on January 1, 2013 for $17,000,000. His current home has 7 bedrooms, 9 bathrooms and has 20,248 square feet of interior living space and incredible outdoor spaces.

    According to property records, his brand new purchase, just a few hundred feet away, was purchased on October 24, 2013 for $6,750,000.  The ranch-style home is substantially smaller than his existing abode, with just 3 bedrooms, 4.5 bathrooms and 2,756 square feet, with an oval pool and private guest cottage. The home was the longtime residence of “Charlie and the Chocolate Factory” actor Gene Wilder, who lived there from 1976-2007.

    What it lacks in size, Musk’s new property makes up for in opportunity. The home is the perfect location to develop a dream property. It sits on a one acre promontory overlooking a beautiful stream, mature trees and the white sand traps of the 13th green and 14th fairway of the prestigious Bel-Air Country Club Golf Course.  The lot is elevated, allowing for distant city views.

    Musk currently lives in an incredible estate that he previously rented for three years before he officially purchased it January 2013. It’s likely he’ll either capitalize on the opportunity presented by the new home and build an even more over-the-top mansion, or he’ll raze the existing home and create even better views and privacy for his current home.

    He’s not the first billionaire to buy their neighbor’s homes. Facebook CEO Mark Zuckerberg and Yahoo! CEO Marissa Mayer both recently paid millions of dollars for adjacent and nearby properties to ensure privacy.

    With a net worth of $6.7 billion, Musk has the purchasing power to gobble up all the pricey estates for miles and miles.

    Musk has made headlines recently when he unveiled plans for the Hyperloop, a rapid-speed train that claims to be able to transport passengers from San Francisco to Los Angeles in 30 minutes.

     

    Images via the MLS.

    Report: Yahoo! CEO Marissa Mayer Spends $11.2 Million For Funeral Home Near Her Suburban Home

    Posted by Cristin  |  October 30, 2013  |  11:47 am  |  Tags: , , , , , , , , ,

    Peter Kramer/ASSOCIATED PRESS

    Marissa Mayer

    Palo Alto, CA

    Most Known For

    Longtime Google employee, turned Yahoo! CEO

    Home Stats

    Funeral home, likely to be demolished

    Price

    $11,200,000

    Just in time for Halloween, Yahoo! CEO Marissa Mayer is the proud new owner of a funeral home in Palo Alto, CA.

    According to reports by The Silicon Valley Business Journal and Palo Alto Weekly, Mayer bought the property that houses Roller & Hapgood & Tinney, Palo Alto‘s oldest funeral home for $11.2 million. The funeral home is set to close its doors on October 31st, and the land on which it sits is currently zoned “planned community,” and a 2012 Palo Alto city report identified the funeral-home property as a potential site for up to 21 residences.

    No one knows exactly what Mayer plans to do with the property, but the deal does resemble the buying spree Mark Zuckerberg just went on in Palo Alto. Zuckerberg bought the three homes adjacent to his main residence to protect his privacy and to stop a developer from marketing a home as being “next door to Mark Zuckerberg. Mayer may be taking a similar approach, as her Palo Alto residence is just a short block from her new purchase.

    Standard with high-profile buyers, Mayer’s name isn’t directly associated with the purchase. County transfer tax records show a blind LLC paid $11.2 million for the site and the deal closed on Oct. 7th.

    Image via Google Street View.

     

      Brody Jenner Spends $1.9 Million For Malibu Hideaway

      Posted by Cristin  |  October 28, 2013  |  7:34 am  |  Tags: , , , , , , , ,

      People.com

      Brody Jenner

      Malibu, CA

      Most Known For

      Son of Bruce Jenner, Step-brother of the Kardashians, previously appeared on reality TV show "The Hills" and others

      Home Stats

      3 bedrooms, 3 bathrooms, 1,517 square feet

      Price

      $1,895,000

      Reality TV star and Kardashian step-brother Brody Jenner has just dropped $1,895,000 on a quaint and quiet Malibu hideaway.

      According to property records, Bruce Jenner‘s son closed on the 3 bedrooms, 3 bathroom, 1,517 square foot home on October 11, 2013.

      With his new Malibu digs, Brody is now neighbors with his brother Brandon and his wife Leah, who recently dropped $1.455 million on a rundown Malibu teardown that they will likely rebuild into their dream home. Their dad isn’t that far away either! After secretly splitting from Kardashian Momager and matriarch Kris Jenner earlier this year, Brody’s dad Bruce Jenner also became a Malibu resident when he rented a beachfront Malibu home for $14,500 a month after moving out of the Kardashian compound in Calabasas.

      Brody’s new Malibu home is a rare gem and came onto the market for the very first time this summer. Very private, the 4+ acre home also has a guest house and is set among the oaks and on a running creek. The existing home is an updated rustic cottage with hardwood floors, wood burning fireplaces, ocean view and plenty of usable land to potentially expand the home. In a unique Malibu location, Jenner’s new property has land and plenty of room for horses, but is just seconds to the beach.

      Images via the MLS.

      Material Girl Madonna Sells Beverly Hills Mansion For $20 Million!

      Posted by Cristin  |  October 24, 2013  |  11:53 am  |  Tags: , , , , , , , ,

      Kevin Mazur/WireImage.com

      Madonna

      Beverly Hills, CA

      Most Known For

      Her Madgesty, a timeless pop icon

      Home Stats

      9 bedrooms, 17,000 square feet, resort-size pool, 2 guest houses

      Price

      $20,000,000

      Her Madgesty has sold her massive castle in Beverly Hills!

      Madonna, the Queen of Pop, who publicly listed her Beverly  Hills estate for $22.5 million in January 2013, has snagged a mystery buyer who paid a reported $20 million.

      Before it came (and lingered on the market), Madonna’s posh pad had long been rumored to be a “pocket listing”–not officially on the MLS, but still for sale–for $28 million, but since the price wasn’t in ‘Vogue’ with buyers, Madonna was forced to try the public market at a lower price.

      After about 10 months on the market, Madonna has finally sold for $20 million – a nice profit of $8 million dollars more than the $12 million she paid in June 2003, when she bought the home from actress Sela Ward. ‘Take a Bow,’ Madonna – nice work!

      The whole time the home was on the market, only a single image showing the home’s ‘Borderline’ was available, so we never got to peep the interiors. We do know Madonna’s just-sold property starts with a 500-foot, gated, tree-lined drive that leads to an acre and a quarter of lushly landscaped grounds, offering total privacy for residents to ‘express themselves.’

      The recently remodeled house has all the finest details and amenities: nine bedrooms, two living/reception rooms, a two-story dining room, junior dining room, large kitchen with breakfast room/den, and a full size screening room and theater. As if that weren’t enough space to ‘Cherish,’ the property also has two offices, assistants offices, a gym, staff rooms, two guest houses, a north/south tennis court, and a resort-size pool. No detail was overlooked and no expense spared in maintaining the house meticulously. It’s clear, by taking one look at her former home, that Madonna is a ‘Material Girl.’

      Madonna is no property ‘Virgin,’ as she also has homes in New York and London.

        Jessica Simpson Sells Beverly Hills Mansion For $6.4 Million!

        Posted by Cristin  |  October 15, 2013  |  8:26 am  |  Tags: , , , , , , , ,

        CHANCE YEH/PATRICKMCMULLAN.COM/SIPA

        Jessica Simpson

        Beverly Hills, CA

        Most Known For

        Former pop star and reality TV newlywed who reinvented herself as a fashion mogul and mommy

        Price

        $6,400,000

        Months after decamping to the $11 million dollar Hidden Hills mansion she bought from Ozzy and Sharon Osbourne, Jessica Simpson has finally sold her former home in Beverly Hills for $6.4 million.

        Listed by the former reality TV “Newlywed,” turned billion-dollar fashion designer for $7,995,000 in May 2013, the home finally found a buyer for about $1.5 million less than asking price. It’s still a tidy profit from the $5,275,000 she originally paid in December 2005.  Simpson purchased the 5-bedroom, 6 bathroom, 5,500 square-foot estate right after she announced to the world that she and husband Nick Lachey were divorcing.

        Simpson’s, fiance Eric Johnson and baby girl Maxwell had been living as one happy family in the home for the past few years, but with the new addition of a new baby boy, Ace Knute, the family of four was ready to sell the estate off and nest in their new Hidden Hills home.

        Built in 1991, the custom home is evocative of the stylish real estate found in the Hamptons and is located in one of the most private, guarded celebrity enclaves. Simpson tapped celebrity decorator Rachel Ashwell to do the home up in her trademark “Shabby Chic” style.

        The property is walled and gated, with a stone courtyard that leads to a koi pond. Inside, high ceilings punctuate the formal living room and dining room. A family-friendly, restaurant-style gourmet kitchen leads to the breakfast room then out to the stone courtyard. The media/family room opens out to the serene, private and secure park-like grounds and swimming pool.

        The home also has quite the Hollywood pedigree. Prior to Simpson and her family living here, Paul Hogan, Tom and Kathy Freston, Ellen DeGeneres, and Rick Yorn all called this gorgeous Beverly Hills property home.

          Reese Witherspoon Reduces Ojai Estate By Another $1.3 Million

          Posted by Cristin  |  October 14, 2013  |  7:48 am  |  Tags: , , , , , , , , , ,

          Wikipedia

          Reese Witherspoon

          Ojai, CA

          Most Known For

          Winning Academy Award for Best Actress for Walk the Line and starring in all Legally Blonde films

          Home Stats

          9-bedroom, 6.5 bath, 7-acre property

          Price

          $5,900,000

          Reese Witherspoon may be one of America’s most beloved actresses, but she’s not feeling the love in the real estate game. After a year on the market and numerous price reductions, she just reduced the price of her rustic-style Ojai, CA retreat by another $1.3 million, bringing the new asking price to $5.9 million.  The new price is much, much lower than the $10 million she was originally asking for the estate.

          While pregnant with her third child, the retreat made headlines when Witherspoon and this Ojai home appeared on the cover and in a full length spread in the September 2012 issue of Elle Décor. That month, it officially came on the market with a $10 million dollar price tag and a splashy feature story in The Hollywood Reporter.

          The home first made headlines in March 2011, when Witherspoon married second husband Jim Toth in front of a group of A-list guests on the grounds of the estate. Months later, rumors swirled that Witherspoon offered the Ojai home to her Water For Elephants co-star Robert Pattinson as an escape from the media during his ex-girlfriend Kristin Stewart’s affair scandal.

          While this country retreat has gotten all the media exposure one would think it would need to sell, Witherspoon is still struggling to find a buyer. After numerous price chops, Reese is now asking just $100,000 more than the $5.8 million she paid when she purchased the property from prominent interior designer Kathryn Ireland in 2008.

          Since then, Witherspoon has renovated the space, clearly adding tremendous value, but she won’t get much more than she originally paid and will likely lose money on the deal.

          Built in 1923 and hidden away in the Ojai Valley hills, the vacation retreat was originally designed by architect Wallace Neff as a barn, later turned to an actual home in the 1940’s by architect Austen Pierpoint. The Spanish architecture gives the home tons of personality and allows for a true getaway. The rustic, century-old designs comes alive with the stone-lined hallways and wood beamed ceilings. A cool and relaxing ambiance surrounds the space as natural light graces each room and views of the hills can be seen throughout. In the recent issue of Elle Decor, Witherspoon nicknamed the home “Libbey Ranch” and describes it as “meditative and restorative,” like “having a little bit of Tennessee in California.”

          With four bedrooms and three and a half baths, the 5,000 square foot main home seems minuscule on the seven-acre property, yet horse stables, three guest cottages, a carriage house and swimming pool take up the remainder of the land – perfect for a large family to relax and escape to a quiet, country vacation.

          Gregg Leach of Village Properties now has the listing.

            Mark Zuckerberg Secretly Spends $30 Million On Neighbor’s Homes To Maintain Privacy

            Posted by Cristin  |  October 11, 2013  |  4:10 pm  |  Tags: , , , , , , ,

            Crunchbase

            Mark Zuckerberg

            Palo Alto, CA

            Most Known For

            Facebook CEO

            Home Stats

            3 adjacent properties

            Price

            $30,000,000

            Facebook CEO Mark Zuckerberg may oversee a company with information about more than a billion people worldwide, but when it comes his own life, privacy is paramount.

            According to property records uncovered by the San Jose Mercury News and confirmed by Trulia, the Facebook CEO spent $30 million over the last 10 months to buy three of his neighbors’ homes.

            With a $19 billion dollar net worth, the collective $30 million was just a drop in the bucket for Zuckerberg, who doesn’t intend to raze the homes adjacent to the one he paid $7 million for in March 2011 and build a massive compound. Instead, he’s taken ownership of three properties and will simply rent the homes back to the current residents.

            Word is that the deals started to go down when Zuckerberg caught wind that a developer planned to buy a neighboring home and charge a premium for the home by marketing it as being “next to Mark Zuckerberg.” To squash that deal, Mark simply bought the house instead.

            Zuckerberg’s recently-revealed purchases not only stopped that one slimy developer from profiting from being Zuckerberg-adjacent, but it also ensured that Mark and his wife Priscilla Chan won’t face that issue again. For one particular property, Zuckerberg had to really pony up, likely because the seller didn’t want to sell or knew Mark was motivated and had the funds. He paid $14.5 million for a home with a market value of about $3.2 million dollars.

            The properties are all held in generically-named LLCs tied back to Zuckerberg’s money manager at Iconiq capital.

            Zuckerberg also owns a home in San Francisco that is currently undergoing extensive upgrades.

            Images via Google.

              Katy Perry Still Can’t Sell Russell Brand Love Nest, Price Chops Home By Another $500k

              Posted by Cristin  |  October 7, 2013  |  10:07 am  |  Tags: , , , , , , , , , ,

              Jason Merritt/Getty

              Katy Perry

              Hollywood Hills, CA

              Most Known For

              Pop songstress with a tabloid-worthy personal life

              Home Stats

              7 bedrooms, 9 bathrooms, 8,835 square feet, pool

              Price

              $5,988,000

              Poor Katy Perry!

              She just can’t seem to be able to leave the past behind and sell the Hollywood Hills home she intended to share with then-husband Russell Brand before their divorce. After a massive price cut this summer, she has just price-chopped the home for a second time!

              Katy Perry is ready to close the door on that part of her life, even if it means losing a ton of money in the process. In a revealing article in the June 2013 issue of Vogue, Perry revealed that Brand told her he wanted a divorce via text message. With that kind of ending, no wonder Perry wants out of the home that she and Brand had intended to make their happy home. After slashing the price on their former home by $430,000 in June, Perry has axed another $507,000 from the asking price, bringing the new price to $5,988,000 – $512,000 less than what she paid for it!

              Purchased by the songstress on June 24, 2011 for $6,500,000, Perry intended to make the 3-acre estate compound near the famed Chateau Marmont her and then-husband Russell Brand‘s marital love nest. Amid rumors of an impending divorce and before the moving vans could even get in the front gates, the duo split for good – and the home remained vacant. Perry was reportedly secretly hoping to find a buyer for her unlucky love nest without having to officially list the home for sale. Perhaps she was asking too much money or people just didn’t want the bad juju associated with the home, but Perry couldn’t find her buyer with a pocket listing. She officially listed it April 2013 and has been desperate to part with it ever since. Still without a buyer, Perry is discounting the home yet again, in hopes that an even lower price will entice someone to make an offer.

              The home, dubbed “Park Hill,” was built in 1921 and is comprised of a significant Mediterranean residence with two-story grand entry that continues into two-story living room overlooking all of Los Angeles and the city’s dramatic skyline.

              The property has a separate two-story guest house that was formerly a caretaker’s apartment on the lower level and a Carriage House on the second level for auto storage. In 2004, another guest house was built and could be used as a private residence, as it comes complete with a bedroom, kitchen and bathroom.

              The lushly landscaped backyard has a lagoon-style pool with waterfall and small bridges. Adding to the allure of this property, the home neighbors Frank Lloyd Wright’s famed Storer House.

              Perry has since moved on a romance with John Mayer and on the real estate front, she’s also moved on to a two-home compound that she purchased for $11 million.

                Ellen and Portia Sell High Priced Equestrian Estate In Just Six Weeks

                Posted by Cristin  |  September 12, 2013  |  3:58 pm  |  Tags: , , , , , , , , ,

                Lara Porzak Photography via Getty

                Ellen Degeneres & Portia de Rossi

                Thousand Oaks, CA

                Most Known For

                Daytime talk show host and beautiful actress; Real estate aficionados

                Home Stats

                8 bedrooms, 10.5 bathrooms, 26.29 acres

                Price

                $10,580,000

                Ellen Degeneres and Portia de Rossi have sold their Thousand Oaks equestrian estate just six weeks after listing it.

                First listed for $11 million, the duo must have had oodles of interested parties, because they quickly upped the asking to $12.995 million. Now, the home is under contract with a buyer, as first reported by Curbed and confirmed by the listing agent, Suzanne Perkins. The Los Angeles Times is reporting that the sale price is $10.85 million.

                Nestled at the foot of the Santa Monica Mountains in Thousand Oaks, CA, Ellen and Portia’s former property is comprised of 26 acres that include a unique compound of vintage barns, charming guest cottages and state-of-the-art equestrian facilities. Two large barns serve as the social hubs of the property and are ideal for entertaining. Four private cottages provide modern convenience and farmhouse charm. A stable has six double stalls, grass and sand turnouts, a dressage arena and judging stand. The property also features a tennis court and windmill. Additionally, incredible landscape lighting washes majestic oaks, pines in pools of light and cottage paths appear magically at night.

                A mere 50 minutes from Ellen and Portia’s $17.4M main residence in Los Angeles, this property was the ideal escape for the hard-working duo.

                Don’t worry about Ellen and Portia being without a proper vacation home. Just before they put this ranch on the market, they scooped up a mansion in Montecito, CA for $26 million.

                In the past couple years, Ellen and Portia have kept their real estate agent on speed dial. They sold a penthouse in Beverly Hills, flipped Brad Pitt’s Malibu bachelor pad, and sold their massive Beverly Hills compound to Ryan Seacrest. Expect more news from these real estate aficionados sometime soon.

                 

                 

                  SOLD: Exes Paul Wesley and Torrey DeVitto Snag A Buyer and Make Major Profit On Former Marital Home

                  Posted by Cristin  |  September 9, 2013  |  1:33 pm  |  Tags: , , , , , , , , , ,

                  Gustavo Caballero/Getty

                  Paul Wesley & Torrey DeVitto

                  Most Known For

                  He's best known for playing Stefan Salvatore on Vampire Diaries and she's known for her TV work in Army Wives and One Tree Hill

                  Home Stats

                  3 bedrooms, 2.5 bathrooms, 3,262 square feet

                  Price

                  $1,734,020

                  There’s a silver lining in Paul Wesley and Torrey DeVitto’s divorce story. The actor and actress exes just closed on the sale of their former martial home in the Hollywood Hills – and they got $139,000 OVER their asking price.

                  Property records show that the home closed on September 6, 2013 for $1,734,020. They were asking $1,595,000 when they listed it in early August. The timing may not have been right for their relationship, but when it comes to the housing market, it was spot on. Shortly after placing the home on the market following their divorce announcement, it quickly went into escrow and closed a month later.

                  After meeting in 2007 and marrying in a private ceremony in New York City in April 2011, Wesley and DeVitto purchased the home together on December 29, 2011 for $980,000. While their marriage may be kaput, they can at least smile about the $754,000 profit they made on the home sale.

                  Sold to an unknown buyer, the Wesley and DeVitto’s former home is a fully restored 20?s Mediterranean Villa perched above Beachwood Canyon with hedged perimeter for absolute privacy. The interior has a large rotunda entry, gorgeous vintage tile floors, a top-of-the-line kitchen, beamed ceilings and stone counters.

                  Upstairs, the large master retreat is separated from the 2 additional bedrooms, which share a vintage-style bathroom. Outside, French doors open to a large flagstone, canyon-view terrace with fountain and garden areas.

                  Peter Maurice of Rodeo Realty – Beverly Hills represented Wesley and DeVitto in the sale and Boni Bryant of Sotheby’s International Realty was the buyer’s agent.

                  Images with the MLS.