The $90-million sale of the historic Owlwood Estate in Los Angeles made headlines last fall as the city’s second-most expensive home purchase. On Thursday, just 10 months later, the owner announced that he’s putting it back on the market for an eye-popping $180 million.
The Owlwood Estate gained intense market interest after Jay-Z hosted a Grammy Awards party there earlier this year, according to owner Bob Shapiro, Chief executive of Woodbridge Luxury Homes and head of Sturmer Pippin Investments.
Mr. Shapiro, who attended the event, said among the A-list party guests were Sean “Diddy” Combs and Rihanna.
Known for renovating classic estates, Mr. Shapiro assembled a team of noted architects, including Meyer Davis Studio and KAA Design Group, to convert and upgrade the Owlwood Estate.
“We have hired the best of the best to put together a redevelopment plan which will boost the property’s value while maintaining the architectural integrity of the home’s origin,” Mr. Shapiro said in a news release.
Redevelopment plans call for a portion of the 10 acres of land to be used for buildable parcels or additional homes, according to Tyrone McKillen, co-founder of Plus Development Group, which is overseeing the development.
Designed by architect Robert D. Farquhar in 1936, the Italian Renaissance- style Owlwood Estate at 141 South Carolwood Drive has 12,200 square feet of living space. It has had a slew of celebrity owners, including actor Tony Curtis, music duo Sonny Bono and Cher and Joseph Schenk, the founder of 20th Century Fox, who hosted Marilyn Monroe in the guest house in the mid-1940s.
Adam Rosenfeld, co-founder of luxury real estate brokerage Mercer Vine, who previously represented Sturmer Pippin Investments in the home’s purchase, will be handling the sale of the property. The listing is set to go live on the Multiple Listing Service Aug. 1.
Follow Mansion Global:Facebook | Twitter | Instagram | LinkedIn | Messenger
Write to us: email@example.com