Brad Pitt beat the buzzer in Hollywood Hills, selling his longtime compound for $39 million just before Measure ULA went into effect, The Times has confirmed.
By closing the deal in the waning days of March, Pitt avoided the so-called “mansion tax,” which took effect on April 1, charging a 5.5% transfer tax to all L.A. property sales over $10 million. At $39 million, the “Bullet Train” star avoided a $2.145-million tax bill.
It’s a hefty profit for Pitt, who paid just $1.7 million for the property in 1994. He bought it from Cassandra Peterson, the actress best known for her character “Elvira, Mistress of the Dark.” During the transaction, Peterson told Pitt that the home was haunted by ghosts, which added to his interest in the property, according to People.
Pitt expanded the estate during his two-decade stay, buying four surrounding properties from 1998 to 2009. In total, the compound spans roughly two acres.
The Craftsman-style home comes with a skate park, koi pond and multiple swimming pools.
(Google Earth)
Perched on a private knoll near the border of Hollywood Hills and Los Feliz, the property centers on a Craftsman-style house built in 1915. Lush gardens surround the 6,700-square-foot home, leading to outdoor amenities such as a skate park, koi pond and multiple pools.
Photos are scarce since the house never officially hit the market. Instead, Pitt quietly shopped it around for $40 million as a pocket listing, meaning it was privately offered to qualified buyers in luxury real estate circles. The buyer remains unclear.
The deal, which was first reported by “Entertainment Tonight,” is one of Southern California’s priciest sales so far this year and one of the biggest sales ever in Hollywood Hills. The neighborhood’s price record was set last year when Michael Rubin dropped $70 million on a property once owned by Ronald Reagan.
Pitt lived in the home with his family for years but has since moved north to Carmel Highlands, where he bought a $40-million clifftop castle known as the D.L. James House last summer.