Holmby Hills, Los Angeles · Provenance Record
301 North Carolwood Drive, Holmby Hills
$100,000,000 · recorded 2016
Los Angeles, CA
A newly built estate on the former site of Barbra Streisand’s Mon Rêve, developed by Gala Asher of Dream Projects L.A. and acquired in October 2016 by Tom Gores, chief executive of Platinum Equity and owner of the Detroit Pistons, in a deal reported at $100 million.
The Real Deal and Dirt both describe the transaction as part cash and part trade of other properties held by the buyer rather than a straight purchase, so the $100 million figure represents reported total consideration. Ginger Glass, then of Coldwell Banker, carried the listing from its April 2016 debut at $150 million.
Sale Price
$100,000,000 reported consideration
Record Date
October 2016
Status
Closed
Property Type
Single-Family Estate
Listing Agent(s)
Listing Brokerage
Coldwell Banker, at the time of sale
Buyer’s Agent(s)
Samira Gores, Tiffany Martin, Christine Martin (reported)
Buyer’s Brokerage
The Agency
Ownership Lineage
Every press-verified change of hands on record for this property, in order.
Listed · $150,000,000
The spec estate is offered at $150 million
Developer Gala Asher brings the newly completed house to market at $150 million with Ginger Glass of Coldwell Banker Previews International. Coverage describes roughly 38,000 square feet of interior space across the compound, ten bedrooms and twenty bathrooms on about 2.2 acres, with a 5,300-square-foot primary suite, a theater, a wine room, a spa and parking for dozens of cars.
Sources: Forbes, Connect CRE
Sold · $100,000,000 reported
Tom Gores acquires the estate in a part-cash, part-trade deal
The Real Deal reports the acquisition by Tom Gores at $100 million and describes it as an unusual transaction in which the buyer traded a number of properties, including developable land, alongside cash. Dirt reports $30 million in cash plus two properties. Ginger Glass held the listing; The Real Deal names Samira Gores, Tiffany Martin and Christine Martin of The Agency on the buy side.
Sources: The Real Deal, Dirt
Press Citations
Every fact on this page traces to one of these sources.
The Real Deal
Platinum Equity CEO Tom Gores buys Holmby Hills spec home in $100M deal
The Real Deal reported the $100 million acquisition of the Gala Asher spec estate at 301 North Carolwood Drive by Platinum Equity chief executive Tom Gores.
October 2016
The Real Deal
SOLD: LA’s 10 biggest residential sales of 2016
The year-end ranking named Ginger Glass of Coldwell Banker as listing agent on the Carolwood Drive deal and described the transaction as a trade of properties and land rather than an all-cash purchase.
December 2016
Dirt
Dirt reported that the buyer paid $30 million in cash and traded two other properties for the Holmby Hills estate, and identified the acquiring entity as Lorac Holdings LLC.
2016
Forbes
Holmby Hills Spec Home with Celebrity Ties Hits Market for $150 Million
Forbes covered the April 2016 debut at $150 million, naming Ginger Glass of Coldwell Banker International and detailing the ten-bedroom, twenty-bathroom estate built on the former Barbra Streisand site.
April 2016
Connect CRE
A Slice of Celebrity Life: $150M Holmby Hills Estate Tops CA Market
Reported the $150 million asking price, the 38,000-square-foot figure and Ginger Glass of Coldwell Banker Previews International as the listing agent.
April 2016
How This Record Was Verified
- Method
- Compiled from published editorial coverage of the listing and the acquisition. The price is recorded as reported consideration because two outlets describe the deal as part cash and part property trade.
- Open entries
- Buy-side representation is named by one outlet only. The exact closing day is not stated in press and is not published here. Interior square footage is reported at 38,000 by most outlets and at 30,000 by Dirt.
- Sources
- The Real Deal, Dirt, Forbes and Connect CRE, each linked in full above.
- Corrections
- Unconditional and not contingent on any commercial relationship. See Corrections Policy.