Real Estate Industry News

The Los Angeles neighborhood of Pacific Palisades has been steadily climbing to the top of the price ladder ever since it crossed into million-dollar listing territory 7 years ago when every single family home on the market had two commas in the asking price. Celebrities have flocked to these hills, with names like Matt Damon, Tom Hanks and Rita Wilson, J.J. Abrams, Steven Spielberg, Adam Sandler, Michael Douglas and Catherine Zeta-Jones all said to have owned a home here. Larry David, of Curb Your Enthusiasm, filmed the show at his house in this same neighborhood.

Its popularity is still on the rise as one of the latest new builds shows. Developers spent years creating this 15,000-square-foot house on a two-acre lot and recently brought it to market for $55 million, a record-breaker for the neighborhood if it achieves that price. It’s also one of the only homes with a “car showroom” that lets you pull your car up into a parking space with glass walls so it can be highlighted much the same way someone would show off a piece of art. Those glass walls can fold away so you can keep the ones that lead to the interior of the house open and when you come home just drive up into the house, get out of the car and walk directly into the nearest room.

Public records show the highest-priced sale on record is a $33.8 million house of approximately 15,000 square feet that sold last May. According to listing agent Gary Glass there is currently one other off-MLS listing on the same street asking $59 million, but for public listings this is the highest-priced home on the market at the moment. The next highest-priced home for sale is a $27.5 million listing measuring just over 6,200 square feet.

“Nobody’s ever built a house like this in the Palisades,” said Glass. This clifftop pad puts its own spin on the “stacked-block” design common to Los Angeles mansions. By using thicker dividing walls that are made out of materials more textured than your standard white slab, the design has a little more personality than others vying for the same motif. The entire build, based on designs by architect Trevor Abramson, took nearly four years to complete and is located next to all the major celebrities, according to Glass.

The home also captures more of the California spirit with fully retractable doors that create a sense of being fully outdoors even though you’re inside.

A few steps behind the living room is the open-plan kitchen with slate-colored countertops and appliances that contrast with the honey tones of the wood floors and ceilings.

Downstairs is a living room with movie theater, bar and walk-in wine cellar. Not pictured is the spa area with infra-red sauna, cold dipping tub and gym on the same level.

Here’s a view from above that shows how secluded the location is with views looking down from the cliff. This aerial view provides a fuller example of how it still achieves the wide open vistas of the surrounding acres without resorting to the stacked block look.

The listing is with Gary Glass of Gary Glass Estates/Berkshire Hathaway HomeServices California.