"Spanning five acres in guard-gated Serra Retreat, the property boasts a 1940s French Country-inspired mansion, a guesthouse, riding ring, carriage house, multiple outbuildings and a six-stall barn for a total of nearly 14,000 square feet. Highlights inside the home include a two-story ballroom, wood-paneled library, movie theater, wine cellar and a double-island kitchen designed by Wolfgang Puck."
"Ed McMahon, the late game show host and comedian who served as Johnny Carson's late-night talk show sidekick for 30 years, picked up this property for $2.6 million in 1990 but eventually lost it two decades later after defaulting on $4.8 million in mortgages. Following roughly a year on the market, it recently relisted for $7.895 million."
"Generally speaking, the summer is when L.A.'s ultra-luxury real estate market reaches its apex. This year was no exception, as California had its priciest home sale ever when the Manor in Holmby Hills traded hands in July for a whopping $119.75 million."
Los Angeles's ultra-luxury real estate market peaks during summer, exemplified by the Manor in Holmby Hills selling for $119.75 million in July. Winter typically sees slower sales, but early December brought five former celebrity homes to market. Kelsey Grammer's Malibu equestrian estate, originally purchased for $4.5 million in 1998, relisted at $18.75 million after fluctuating on and off the market for three years. The five-acre Serra Retreat property features a 1940s French Country mansion, guesthouse, barn, ballroom, library, movie theater, and Wolfgang Puck-designed kitchen. Ed McMahon's Beverly Hills property, acquired for $2.6 million in 1990, relisted for $7.895 million after foreclosure.
Read at Los Angeles Times
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