With the holidays looming, the wheels of celebrity real estate slowed considerably, with only one trade recorded above $10 million. That lone purchase came at the dial-twisting hands of Drew Taggart, one-half of the Chainsmokers group and a strong investor in Los Angeles spec homes. Otherwise, celebrities reacted to a softening market, relisting their properties at discounted asking prices.
Taggart, an EDM star, dropped $12 million on a new spec home in the Hollywood Hills. Developed by ANR Signature Group, the 10,100-square-foot property includes six bedrooms and seven bathrooms. It also features a massive indoor courtyard and swimming pool. ANR paid $3.9 million to acquire the land in 2015, records show. The home marks the fourth time Taggart has bought a spec home in L.A. He currently owns two properties in Sherman Oaks and another in West Hollywood, all acquired in the last few years.
Things aren’t going as well for Tommy Lee, who is struggling to unload his Calabasas home. The Motley Crue drummer relisted his almost 10,000-square-foot home for $4.65 million, down from nearly $6 million in 2016. The three-story home, built in 1987, has six bedrooms, including a master bedroom that’s covered in fuzzy furniture and carpets. There’s also a piano-shaped pool, Koi pond and 3,000-square-foot recording studio on the grounds.
Irish actor Stuart Townsend sold his Malibu home for $4.1 million, about $1 million short of his original asking price of $5.3 million. Located on a three-acre spread in the Big Rock Mesa neighborhood, the residence includes three bedrooms and three bathrooms within 2,500 square feet of space. There’s also a swimming pool and tennis court outside, plus a detached guesthouse. Townsend paid $3 million to acquire the property in 2014, the Los Angeles Times reported. He’s best known for his role in “Queen of the Damned,” and most recently, “Salem.”
Former L.A. Lakers star Jerry West cashed in $2 million from his sale in Playa Vista recently. Spanning 3,700 square feet, the three-story pad includes three bedrooms and four bathrooms. There’s also a media room and office inside the home, the Los Angeles Times reported. West, who now holds an executive board member position with the L.A. Clippers, bought the property over a decade ago for $1.7 million. The home was built in 2006, and then listed for sale in September. Before joining the Clippers last year, West served as general manager for the Lakers for two decades.
Source: The Real Deal Los Angeles