Is Santa Monica the new Beverly Hills? North of Montana the new Bel Air? The property at 1525 San Vicente has closed escrow for a record breaking $24,500,000—that is a lot of zeros! The sale closed a few months ago and is easily the highest sale price ever paid for a single family home in Santa Monica and I don’t expect to see this price trumped for many, many years. 
I wrote about the house back in May of 2012 and again in November of 2012 when it first was listed for sale. The property is a whopping 22,794 sq ft on 1.3 acres. A total of seven bedrooms, thirteen bathrooms an indoor half basketball court, gym, full spa, and screening room with a killer, Riviera Country Club Golf Course view. The property took a while to sell – it was on the market for a total of 371 days and was listed originally at $34,995,000 and later reduced to $25,950,000.
The Buyer, Tom Barrack is a Southern California native, a surfer, a USC law graduate and rugby champion—and now a Trustee of USC. His first job was at Richard Nixon’s law firm. Later he organized diplomatic relations between Saudi Arabia and Haiti. In 1990, he started Colony Capital. He is in the top 1,000 richest people in the world and owns homes all over the globe with billions of dollars in national and international investments. One of Tom’s other notable homes is Michael Jackson’s Neverland Ranch.
Tea Time
Join us for High Tea this Sunday at 440 15th St – New construction East Coast Traditional with an ideal floor plan; 5 en-suite bedrooms upstairs. Light & bright. Gorgeous cook’s kitchen, large family room, lovely back patio, sophisticated master suite, & more. Franklin School District.
Here is your real-time real estate market info:
There are 14 properties available to buy in zip 90402. We just listed a nice Tudor with views at 100 Esparta Way. It’s in a quiet cul-de-sac street north of San Vicente Blvd. There are 6 listings in escrow. There were a few closings this week: 235 24th St, 425 12th St and 754 23rd St. The number of closed sales year-to-date is now 43.
New Listings this Week
100 Esparta Way – 4bd + 2.75ba. $3,199,000. Listed by Pence Hathorn Silver. Stunning ocean & canyon North of San Vicente. Updated kitchen & baths. Tons of original details throughout! Family room w/picture windows. Sunny master w/canyon & ocean views & private balcony. Tranquil backyard w/courtyard patio & deck surrounded by lush landscaping & treetop views. Last sold in June 2006 for $2,625,026.
New Sales this Week
703 14th St. – 3bd + 2ba. $2,695,000. As expected, this home went under contract in less than two weeks. Charming 1926 home w/modern amenities. I sold this home for a client in 2002 and it sold again in 2006 $2,150,000.
New Closed Deals this Week
235 24th St. – 4bd + 5ba. $3,353,500.
425 12th St.– 6bd + 6ba. $3,144,375.
754 23rd St.– 4bd + 4ba. $2,650,000.
Pence Hathorn Silver Active Properties:
502 16th St. – 5bd + 7.5ba – $8,495,000
440 15th St. – 5bd + 6.5ba – $5,395,000
241 19th St. – 5bd + 6ba – $4,995,000
721 23rd St. – 5bd + 5.5ba – $4,495,000
100 Esparta Way – 4bd + 2.75ba – $3,199,000
12727 Sunset Blvd. – 4bd + 4.5ba – $2,345,000
370 N. Kenter Ave – 3bd + 2.5ba – $2,195,000
416 Entrada Dr. – 3bd + 1.75ba – $1,450,000
2402 11th St. – Duplex, 2bd + 1ba – $1,258,000
937 12th St. #211 – 1bd + 1ba – $625,000
Search for more homes, see real time analytics and learn about the North Santa Monica / North of Montana Ave. community on our North of Montana blog. Add your comments (scroll down to the “Add Your Comment” section) and read other blogs. And please call my mobile phone (310) 924-4014 with any questions.
