Owlwood, an estate with a rich history in Holmby Hills, sells for $88 million

"Spanning 10 acres just down the street from the Playboy Mansion, the famed compound has a storied past with a notable architect, celebrity residents and a recent owner indicted in a Ponzi scheme. It centers on a 12,000-square-foot Italian Revival-style mansion designed in 1936 by Robert D. Farquhar, an L.A. architect whose other projects included the Pentagon, Beverly Hills High School and the California Club."

"A series of high-profile players owned the home in the following decades including 20th Century-Fox Chairman Joseph Schenck, oil tycoon William Keck and Hotel Bel-Air founder Joseph Drown. Actor Tony Curtis lived there in the '60s, and he sold it to pop duo Sonny and Cher in the '70s."

"In 2009, it was acquired by a more controversial figure: Robert Shapiro, a real estate developer who a decade later was sentenced to 25 years in prison for running a $1.3-billion Ponzi scheme. He paid $90 million for the property through his firm, Woodbridge Group of Companies, and tried to double his money in 2017, listing it for $180 million."

Owlwood, a 10-acre Holmby Hills estate, sold for $88 million on December 23, 2020, as an off-market deal split into three parcels. The buyer was Calch Urban Investments, an Illinois-based LLC whose owner remains undisclosed. The property ranks as Los Angeles County's third-most expensive residential transaction of 2020, following Jeff Bezos' $165 million purchase and Jeffrey Katzenberg's $125 million sale. The 12,000-square-foot Italian Revival mansion was designed in 1936 by architect Robert D. Farquhar. Notable past residents include Joseph Schenck, Tony Curtis, and Sonny and Cher. The property was acquired in 2009 by real estate developer Robert Shapiro for $90 million, who later faced a 25-year prison sentence for operating a $1.3 billion Ponzi scheme. The estate was sold through bankruptcy proceedings.

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