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HOT PROPERTY

Madonna's estate materializes

January 13, 2013|LAUREN BEALE

As a sign she may be getting serious about selling, Madonna has put her mansion in Beverly Hills up for sale in the Multiple Listing Service at $22.5 million. The property was being shown privately last year as a pocket listing, area real estate agents reported.

During her nearly decade of ownership, the pop icon rebuilt and expanded the estate, completing it in 2010. The gabled-roofed behemoth sits behind gates on 1.17 acres of landscaped grounds. The compound, accessed by a 500-foot tree-lined driveway, includes a nine-bedroom main house, two guesthouses, a resort-size swimming pool and a tennis court. There is a two-story dining room, a gym, a theater/screening room, an art studio, a bar and 17,000 square feet of living space.

The singer-songwriter, 54, is one of the best-selling female recording artists of all time. Among her hit songs are "Vogue," "Borderline" and "Material Girl."

The property is listed with Barry Peele of Sotheby's International Realty in Beverly Hills, and his partner, Andrew Clark, of the same firm.

For The Record
Los Angeles Times Wednesday, January 16, 2013 Home Edition Main News Part A Page 4 Local Desk 1 inches; 59 words Type of Material: Correction
Madonna's property: A Hot Property item in the Jan. 13 Business section about Madonna putting her mansion in Beverly Hills up for sale said that the estate was 1.17 acres. The property was listed as 1.17 acres in the Multiple Listing Service, but that did not include additional land that was purchased separately, bringing the total to 1.25 acres.
For The Record
Los Angeles Times Sunday, January 20, 2013 Home Edition Main News Part A Page 4 Local Desk 1 inches; 59 words Type of Material: Correction
Madonna mansion: A Hot Property item in the Jan. 13 Business section about Madonna putting her mansion in Beverly Hills up for sale said that the estate was 1.17 acres. The property was listed as 1.17 acres in the Multiple Listing Service, but that did not include additional land that was purchased separately, bringing the total to 1.25 acres.

Malibu sets an early 2013 record

Topping Los Angeles-area home sales in 2012 and setting the high-water mark for this year, a 9.5-acre estate in Malibu owned by billionaire Howard Marks and his wife, Nancy, has sold in the $75-million range in an off-market deal.

The exact sales price has not been disclosed. It can be several weeks or more before a transaction appears in the public records.

The property includes a 15,000-square-foot main house of eight bedrooms and 14 bathrooms, two guesthouses, a gym, a swimming pool and more than 300 feet of beachfront.

Marks is chairman of Oaktree Capital Management, which he co-founded. The Los Angeles investment firm has owned about 23% of Tribune Co., whose media assets include the Los Angeles Times, since Tribune emerged from bankruptcy Dec. 31.

The Markses bought the home in 2002 for a reported $31 million. The seller was the estate of Herbalife founder Mark Hughes. They also bought an adjacent 2.5-acre property.

Fred J. Bernstein of Westside Estate Agency represented the sellers.

Home is now her old haunt

"Ghost Whisperer" star Jennifer Love Hewitt has sold a house in Toluca Lake for $2.15 million.

The traditional-style house, built in 1952, features a flexible floor plan, an office, six bedrooms, six bathrooms and 5,921 square feet of living space. The quarter-acre property has a swimming pool and a patio with a built-in bar.

Hewitt, 33, starred in the supernatural drama "Ghost Whisperer" from 2005 to 2010 and stars as a single mother and masseuse in "The Client List." She will be the executive producer of a modern version of "Pride and Prejudice" for Lifetime.

Public records show that the property was purchased in 1998 for $1.695 million. Hewitt owns another house on the same street.

Kathy Fisher of Gibson International was the listing agent. Fred Holley and Jana Jones-Duffy of Coldwell Banker's Beverly Hills South office represented the buyer.

'Partridge' star's nest up for sale

Actress-singer Shirley Jones of "The Partridge Family" and her husband, comedian Marty Ingels, have listed their Encino home for sale at $2.1 million.

Described as ranch-style in the listing, the 5,400-square-foot house sits on nearly three-quarters of an acre with waterfalls, a swimming pool and gardens. Built in 1957, the home features two family rooms, an office, a game room, four bedrooms and six bathrooms. There are family room and master bedroom fireplaces.

Jones, 78, made her name in musical films including "Oklahoma!" (1955) and "Carousel" (1956). She won an Oscar for her supporting role in "Elmer Gantry" (1960) and went on to star in "The Partridge Family," an early 1970s singing sitcom. She has continued to act in numerous TV shows and will star in "A Strange Brand of Happy" and "Johnny Blue" in 2014. Ingels, 76, has worked as an actor and as an agent for celebrity endorsement deals.

The pair bought the property in 2001 for $1.2 million, public records show.

Jessica Andrews of Century 21 Dynasty is the listing agent.

Brisk close for Nancy Sinatra

When singer Nancy Sinatra put a Santa Monica compound she owned on the market late last year, it appeared that her boots were ready to do some walkin' -- to borrow from the title of her 1960s hit. But it seems they ran instead.

Sinatra, the daughter of legendary entertainer Frank Sinatra and his first wife, Nancy, sold the property in 16 days for $5 million. The asking price was $4.895 million.

The Cape Cod-inspired home and guesthouse sits on a nearly half-acre flat lot off a cul-de-sac. The single-story house, built in 1927, features fireplaces in the family and living rooms, two master suites, two more bedrooms, six bathrooms and 3,917 square feet of living space.

Sinatra, 72, had such hit songs as "These Boots Are Made for Walkin'," "Sugar Town" and "Somethin' Stupid," which she sang with her dad.

Public records show that she bought the property last year for $5.06 million.

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