LA Nets Biggest Deal Yet This Year At $62.8 Million For Spec Mansion

1898 Rising Glen Rd LA Redfin 1024x576

1898 Rising Glen Rd LA Redfin 1024x576

The European-style home is situated in the coveted Bird Streets of the Hollywood Hills. This sale signifies a significant milestone for a market that has been struggling due to high interest rates and a mansion tax.

An LA spec mansion in the Bird Streets of the Hollywood Hills has been sold to a buyer from Asia for $62.8 million, making it the largest sale in the city so far this year, as reported by The Wall Street Journal. The 23,000 square-foot estate was developed by Brandon and Deborah Shainfeld of Alpha Empire Designs, who purchased the property for $11.2 million in 2017 and rebuilt it into the new European-style home.

The mansion was listed for $78 million and represented by Kurt Rappaport and Andreas Elsenhans of Westside Estate Agency. The buyer was represented by Helen Chong and Susanna Leung of Haylen Group. The property boasts eight bedrooms, 18 bathrooms, a main house, and a guesthouse set within a gated property with courtyards and city views.

The home features elements inspired by Paris, including grand archways, manicured lawns, and blue-painted garage doors reminiscent of Chanel’s flagship location. The estate also includes an infinity pool, outdoor kitchen, and a pickleball court.

Inside, the home offers a two-story entryway, a full spa with gym and sauna, a chef’s kitchen, a home theater, and a library/home office. Brandon Shainfeld, co-founder of Alpha Empire Designs, is also a managing partner at Platinum Mile Ventures, a venture capital firm.

The property has ties to Hollywood, having been previously owned by director John Schlesinger. LA has seen a decrease in high-value transactions following the implementation of a mansion tax and higher interest rates. Data shows a decline in home sales in LA for the past eight quarters.

For more updates on luxury real estate news, subscribe to Inman’s Luxury Lens Newsletter. For any inquiries related to this article, contact Lillian Dickerson.

A European-style home located in the Hollywood Hills’ sought-after Bird Streets has been sold for $62.8 million, marking the biggest sale in Los Angeles so far this year. The 23,000-square-foot estate was developed by Brandon and Deborah Shainfeld, who bought the property for $11.2 million in 2017 and rebuilt it from scratch. The property includes eight bedrooms, 18 bathrooms, multiple courtyards, and stunning city views. The design of the home draws inspiration from Paris, with grand archways, blue garage doors reminiscent of Chanel, and a luxurious interior featuring a spa, home theater, and library/home office. The sale is seen as a breakthrough for the LA real estate market, which has been struggling due to high interest rates and a new mansion tax. Despite the challenges, this transaction indicates that there is still demand for luxury real estate in the city.

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