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HOT PROPERTY

The Only Water Here Is in Pool

October 08, 1995|RUTH RYON | TIMES STAFF WRITER

KEVIN COSTNER has purchased a Westside home for close to $3 million, having given up his houses near Glendale and in Santa Barbara County in his $80-million divorce settlement last spring, sources say.

The Oscar-winning director ("Dances With Wolves"), and one of the biggest box-office draws of the '90s, bought the Westside home after his science-fiction action epic "Waterworld" was released. He produced and starred in the $200-million "Waterworld," said to be the costliest film ever made. "Waterworld" grossed about $85 million domestically through Oct. 1 and $92 million at the foreign box office as of last Tuesday.

Now Costner, 40, is starring in the comedy "Tin Cup" as a golf pro who makes it to the U.S. Open and falls in love with the psychologist girlfriend of a rival. The movie is being filmed in Arizona.

The house he bought has been described as "a Spanish hacienda," about 9,000 square feet in size, with five bedrooms plus staff quarters. The gated home also has a pool, gym, library and city views.

Jo Wilder of the Jon Douglas Co., Beverly Hills, had the listing, and Johanna Falduto of Stan Herman/Stephen Shapiro & Associates represented Costner, other sources said.

MICHAEL CAINE and his wife, SHAKIRA, have sold their home in the Trousdale area of Beverly Hills for $1.55 million, sources say. The house was first listed in February, at $2.3 million, because the Caines weren't using it, his publicist said at the time.

The Oscar-winning actor ("Hannah and Her Sisters") and his wife, an international model and jewelry designer, had owned the home for about three years.

The actor, 62, and his wife had purchased it as a second home after selling a nearby residence where they had lived for 11 years. Their primary residence is outside of Oxford on the Thames.

They also have an apartment at Chelsea Harbor in London and a penthouse that is being built in Miami, sources say. The penthouse is expected to be completed in two years. The Caines plan to use it when in Miami to oversee a restaurant that they plan to open in an Art Deco building they bought in South Beach, sources say.

The Trousdale home was sold to a local businessman. Built in 1963, it was updated by the Caines. It has five bedrooms in 6,000 square feet and walls of glass opening to a 180-degree view of the city.

Sandy Strick of the Prudential-Jon Douglas Co., Beverly Hills, had the listing.

JOHN REID, Elton John's manager, has sold his contemporary-style home off Mulholland Drive and bought a condo in the 300-unit St. Tropez, New York's first condominium tower when it was built in 1964.

Reid sold his L.A.-area home, which he had owned for about two years, for $1.55 million to a married couple, both business executives from Washington, sources say. The 6,000-square-foot house was built five years ago.

Tim Enright, an independent realty agent with his own company in Beverly Hills, represented Reid, and Tania Ferris of the Prudential-Jon Douglas Co. represented the buyers.

A Bel-Air home built in the '20s and owned for 25 years until 1973 by actress GREER GARSON, 87, has been designated as the Pacific Design Center's first Design House.

Celebrities will collaborate with designers to redecorate the rooms, which will be open to the public in February. Proceeds will benefit cancer-related charities.

David Elliott, who owns a commercial construction firm, bought the six-bedroom, 8,200-square-foot home last spring for nearly $2.85 million. He has listed it at $3.85 million, reflecting the upcoming refurbishing.

He had envisioned the home as a gathering place for his and his fiancee's families. He has five daughters, and she has two sons. His out-of-state construction projects made keeping the house impractical, a source said.

Craig Blanchard of John Aaroe & Associates' new office in the Pacific Design Center has the listing. Steven de Christopher at the PDC is Design House coordinator.

KNBC sportscaster FRED ROGGIN, host of the syndicated "Roggin's Heroes" sports blooper show, and his wife, RICHEL, have sold their Sherman Oaks home and bought a larger gated house in Northridge, sources say.

The Sherman Oaks home sold for close to its $595,000 asking price, which is about what the Roggins paid for it in June, 1994, sources have said.

Don Underwood of Fred Sands' Sherman Oaks office had the listing, and Sheila Dick of the firm's Beverly Hills office represented the buyers, a young local couple.

Postscript From Hawaii:

Newport Beach businessman MIKE PRELETZ and his wife, CAROLYN, built a five-bedroom, 8,400-square-foot home with 320 feet of ocean frontage along the Kona Coast, but then they decided not to keep it as a second home. They've listed it at $22 million, including all furnishings--even the China and silver.

"We have it staffed and ready to go," said listing agent Liz Herszage of Mauna Lani Realty, Hawaii. The newly built home, on an acre, also has two pools and a sauna.

Preletz was in electronics but also "did a lot of turnarounds for venture capitalists," said his brother, project manager Dave Preletz of Manhattan Beach.

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