$120 Million Home Sale in Holmby Hills Sets New LA County Record

Holmby Hills

As home prices across the Westside continue to soar, it is no surprise that we are seeing record-breaking sales prices. The grand prize, however, goes to The Manor located in Holmby Hills, which sold for $120 million. Although not finalized, the deal makes The Manor the most expensive home ever sold in Los Angeles County.

The Manor of Holmby Hills

The Manor was originally built by Candy and Aaron Spelling in 1991. This was during a time when Aaron Spelling was busy producing lucrative shows such as The Love Boat and Dynasty.

The Manor of Holmby Hills was a showpiece that included:

  • 56,500 square feet
  • 7 acres
  • 14 bedrooms
  • 27 bathrooms
  • Hair salon
  • Bowling alley
  • Flower cutting room
  • Doll museum
  • Gift wrapping room

In 2011, Candy Spelling sold the home to Petra Ecclestone for $85 million. Petra wanted the home to have a bit more pizzazz and added a nightclub, exotic fish tanks, and a massage parlor.

Price Reductions

The Manor went on the market almost four years ago with a sale price of $200 million after Petra turned down a private $150 million offer. Many assumed she would get her asking price because of other high-priced sales in the Holmby Hills area, including:

  • The Playboy Mansion for $100 million in 2016
  • A spec home for $100 million

However, in June 2018, Petra reduced the price by $25 million, still making it one of the most expensive homes on the market in the United States. In the last year, The Manor received several more price cuts until it sold for $120 million. Though not the most expensive home sold in the nation, this sale does make it the most expensive home in LA County. The most expensive home in the US is still a Hampton’s estate sold in 2014 for $150 million.

There are many reasonably-priced homes on the Westside and in the Holmby Hills area, so if you are looking to buy, give me a call. I’d love to show you what’s available and help you find the perfect home.

© 2019 The Raskin Group. 2115 Main Street Santa Monica CA 90405 (310) 867-0173

 

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale or withdrawal without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.

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