Welcome back to the Real Estate newsletter, where mammoth sales and one-of-a-kind listings make the biggest splashes as we head into a summer market that’s sure to stay hot.
The week’s two most interesting real estate stories share something in common — homes that are famous because of their late former owners — but the houses themselves couldn’t be more different.
The larger of the pair is hotel magnate Barron Hilton’s longtime home, a 15,000-square-foot Bel-Air trophy estate that sold for $61.5 million — which is Southern California’s priciest home sale this year. Over in the Hollywood Hills, a 100-year-old abandoned Craftsman once rented by rock icon Kurt Cobain surfaced for sale at $998,000. Based on the photos, it might need a little work.
Across the country in Tampa, Fla., Tom Brady found out that even he isn’t immune to landlord trouble. His landlord just happened to be Yankees legend Derek Jeter, who sold the 22,000-square-foot mansion that Brady was renting for a cool $22.5 million. Let’s hope the movers are careful with the star quarterback’s seven Super Bowl rings.
Another week, another potential project for downtown L.A. The owners of the plant where this very newspaper is printed are hoping to redevelop the site into a Hollywood-style lot with 17 soundstages. The budget: $650 million.
Speaking of aspiring projects, the winners are in for the “Low Rise: Housing Ideas for Los Angeles” competition, which challenged architects to imagine…
