Record Selling Prices Set in Los Angeles

New record numbers have now been released for home sales in Los Angeles for 2016. There were a dozen homes that buyers paid for costing more than $30 million making it the most expensive year for real estate in the city’s history. Topping the list were two homes purchased for $100 million.

Playboy Mansion

The 1927 Gothic Tudor-style mansion owned by Hugh Hefner’s Playboy enterprise was purchased by Daren Metropoulos who is a principal at the private equity firm Metropoulos and Company. While the initial asking price for this Holmby Hills mansion sitting on 5 acres was $200 million, Daren was able to secure the 29-room mansion for half of its original asking price. As part of the agreement, Hugh Hefner who is 90 years old will be able to live in the home for the rest of his life.

Carolwood Drive Mansion

Detroit Pistons owner Tom Gores, former husband of Katie Holmes, brought the newly constructed mansion located on Carolwood Drive for $100 million in a deal to include many of Gores’ current homes. This home contains a 5,300 square feet master bedroom opening onto a luxurious heated patio. This property has 10 bedrooms and 20 bathrooms although many of them are located in guest houses. This amazing property was formerly owned by Barbra Streisand.


Tom Gores will be getting new neighbors as the Owlwood estate sold for $90 million. This home was purchased by a group of investors headed by Robert Shapiro who is the CEO of Woodbridge Luxury Homes. This legendary 10-acre estate contains a 12,000 square foot Italian Revival-style mansion originally constructed for businessman C.H. Quinn before being owned by 20th Century Fox Chairman Joseph Schenck and by Sonny and Cher. It is rumored that this home was a favorite of Marilyn Monroe. 

Beverly Hills Mansion

As part of the deal to close the Carolwood Drive Mansion deal, Tom Gores sold his Beverly Hills mansion to private equity multi-billionaire Leon Black for $90 million. This estate containing a 10,286-square-foot multi-winged manor house has seven bedrooms along with two guest cottages. This is the third mansion that Black has brought in the last few years. 

Glass Castle

The Glass Castle that is one of Bel Air’s most iconic properties sold for $39 million to an unidentified Los Angeles businessman. This home contains 14 open-space living rooms along with a wine cellar that opens only when the security system recognizes the owner’s thumbprint. This home contains many technology features. While you can look at this site to see what your own Los Angeles home is worth if you need to sell it fast, this Bel Air castle is definitely not the most expensive listed home in this neighborhood. 

There are many business people are buying top-notch properties in Los Angeles. While these are the highest priced homes to be sold in 2016, the current year promises to be even more exciting. If you need to sell your home fast, then contact Fuller Lighthouse Investment Properties for the best deals.