Real Estate Industry News

On four acres in Beverly Park, the longtime home of late Oscar-winning producer Richard Zanuck has traded hands for $28.5 million. It’s a huge sum, but still $11.2 million shy of the original asking price.

Zanuck, son of Hollywood studio executive Darryl Zanuck, bought the property in the ‘80s. Following his death in 2012, the estate sold a few months later for $20.1 million.

The property looks a lot different than it did in the filmmaker’s day. Once anchored by a brick manor of roughly 10,000 square feet, the promontory property now holds a half-built mansion that will be more than 27,000 square feet.

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In addition to the sleek modern home, the gated compound also includes a guesthouse, a guard house, underground parking and amenities such as a movie theater, a swimming pool and a tennis court.

The house, which is in development, was designed by Steve Hermann, the contemporary architect behind the Glass Pavilion in Montecito. When it’s finished, the home will have 14 bedrooms, 17 bathrooms and a variety of patios and decks to take in city and ocean views.

Shawn Shirdel of Sotheby’s International Realty held the listing.

Zanuck is best known for his collaborations with directors Steven Spielberg and Tim Burton, producing Spielberg’s “The Sugarland Express” and “Jaws” and six of Burton’s films including “Big Fish,” “Charlie and the Chocolate Factory” and “Alice in Wonderland.” He also won an Academy Award for 1989’s “Driving Miss Daisy.”