Real Estate Industry News

Tony Award-winning actor Joe Mantegna didn’t have to wait long to find a buyer for his Toluca Lake home.

The Tudor-style manor had an offer in hand about a week after it hit the market in late January. It sold for $4 million, or $195,000 less than the asking price.

Mantegna, whose myriad credits include “Three Amigos” and “The Godfather Part III,” paid $1.58 million for the property about three decades ago.

Built in 1989, the stately two-story has held up nicely over the years with a charming half-timbered and brick facade. Inside, lattice windows, custom molding and rich hardwood floors bring character to formal living spaces. An impressive great room is reached by illuminated stairs and boasts a movie theater, a game room and a pub-style bar.

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The home’s 7,363 square feet also include four bedrooms, 5.5 bathrooms, a foyer with a sweeping staircase, a wood-paneled office, formal living room, chandelier-topped dining room and a center-island chef’s kitchen.

French doors in the indoor-outdoor family room open onto a backyard patio and lawn, as well as a swimming pool surrounded by palm trees. A deck off the master suite overlooks the space from above.

Craig Strong of Compass handled both ends of the deal.

Mantegna, 72, has been acting since the 1970s. He’s worked extensively with playwright David Mamet, appearing in his Pulitzer Prize-winning play “Glengarry Glen Ross” and his films “House of Games,” “Things Change” and “Homicide.” Since the 1990s, he has also voiced the role of Fat Tony on “The Simpsons.”

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Doctor orders sale

Actress Kim Raver of “24” and “Grey’s Anatomy” and her husband, director Manu Boyer, have sold their home in Venice for $2.7 million.

Found near Abbot Kinney Boulevard, the offbeat two-story has a flexible floor plan, polished concrete floors and an updated kitchen. A light-filled den/family room sits off the kitchen on the main floor.

The master suite opens to a private balcony. There are four bedrooms and three bathrooms in more than 2,000 square feet of space.

Outside, the fenced and gated property has a fire pit, an outdoor shower and a small patio. The two-car garage, previously used as a bonus room, has a separate entrance.

Raver, 51, has appeared on “Grey’s Anatomy” as Dr. Teddy Altman since 2009. Among her other TV credits are “Revolution” and “Third Watch.” More recently, she had a role on the show “Designated Survivor.”

Boyer wrote and directed the 2015 film drama “To Whom It May Concern.” Last year, he directed the Lifetime television movies “Family Pictures” and “Tempting Fate.”

The couple bought the property in 2006 for $1.735 million.

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Kelly Sutherland of Coldwell Banker Residential Brokerage was the listing agent. Elizabeth Padilla of Compass represented the buyer.

His wonderland was on the Westside

The longtime Beverly Crest home of Earth, Wind & Fire singer Maurice White has come on the market for $3.995 million.

White, who co-founded the groundbreaking soul-funk ensemble, bought the house new in 1978 for $340,000 and lived there until his death in 2016. It was sold by his estate in 2018 to producer Seth Ersoff for $2.22 million.

The Tudor-inspired two-story has taken on a fresh look since Ersoff took ownership. New wide-plank wood floors, tile work, hardware and fixtures are among updates of note. In the gleaming white kitchen, dividers were removed and the space was reconfigured for a more open feel.

Upstairs, an expanded master suite contains a bar, a two-way fireplace and a sitting room. There are four bedrooms and four bathrooms in 4,165 square feet of space.

The property sits at the end of a cul-de-sac in the guard-gated Bel-Air Ridge community that has seven tennis courts. Views of the surrounding canyon and city lights abound.

Under White’s leadership, Earth, Wind & Fire produced a wealth of hits in the 1970s and early ’80s, including the songs “Shining Star,” “September” and “Boogie Wonderland.” Later in his career, the singer-songwriter worked as a producer for such stars as Barbra Streisand, Neil Diamond and El DeBarge.

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Barbara Tenenbaum of Hilton & Hyland and Todd Marks of Berkshire Hathaway HomeServices California Properties are the listing agents.

Titan’s lair fetches a fortune

In the exclusive Silicon Valley enclave of Atherton, an estate tied to late Microsoft Corp. co-founder Paul Allen has sold for $35.25 million.

The 21,000-square-foot residence, which had been listed since October for $41.488 million, sits on about two acres with gardens, lawn, a swimming pool and a covered pavilion.

Built in 2013, the custom residence has seven bedrooms, 13 bathrooms and a detached guest house. The layout includes a great room with a bar, a multi-island kitchen, a home theater and a spa. There are seven fireplaces.

A house manager’s suite lies within the five-car garage.

A trust tied to Allen bought the Silicon Valley property new in 2013 for $27 million, public records show. In 2018, the median sale price for homes in the 94027 ZIP Code, where Atherton is located, was $6.7 million, making it the priciest ZIP Code in the U.S.

Since Allen’s death in 2018 at 65, a number of the programming genius’ belongings have come up for sale. Among them is Enchanted Hill, a prized Los Angeles development site, which was listed at $110 million.

A 414-foot mega-yacht called Octopus and a Soviet-era MiG-29 fighter jet are among Allen’s other assets made available for purchase.

Courtney Charney of Parc Agency Corp. was the listing agent for the Atherton property. Tom LeMieux of Compass represented the buyer.

Tuning into the market

A Hollywood Hills home built for pioneering television engineer Klaus Landsberg has come on the market for the first time in nearly four decades for $2.199 million.

The Midcentury Modern-style home, which dates to 1954, was designed by Burton Schutt, the architect credited with the 1940s redesign of the Hotel Bel-Air. Set on a corner lot, the hillside property contains a main house, a separate guesthouse and a free-form swimming pool. Walls of glass, exposed beams and a dual-sided fireplace retain the period vibe.

A towering glass entry sets the stage for the multi-level main house, which has three bedrooms, three bathrooms and nearly 2,500 square feet of space. The period kitchen retains its original wood-burning rotisserie. Walls of windows bring city-to-ocean views inside.

The guesthouse, fashioned in the same style as the main house, adds another living area, a sleeping loft and a kitchenette.

The property last changed hands in 1984.

Landsberg, who died in 1956 at 40, was a German electrical engineer and inventor whose early commercial telecasts, such as the 1936 telecast of the Olympic Games in Berlin, were integral in the evolution of modern broadcast television. He was the original station manager and engineer when KTLA, then owned by Paramount, was created in 1947 and helmed the station’s first broadcast hosted by Bob Hope.

Phil Missig of Berkshire Hathaway HomeServices California Properties holds the listing.