Real Estate Industry News

Jeff Bridges didn’t have to look far to find a buyer for his compound in Montecito. The actor and his wife, Susan Geston, sold their estate to neighbor and media mogul Oprah Winfrey for $6.85 million.

With the transaction, Winfrey is adding to her stock of Santa Barbara-area real estate while Bridges appears to be paring down his portfolio.

Two years ago, the star of “The Big Lebowski” sold his larger property in the area — a Tuscan-inspired vineyard estate of nearly 20 acres — for $15.925 million. He also unloaded several parcels of land in Malibu this year.

The Spanish-style estate is a nice addition to Winfrey’s collection of homes in the celebrity-popular community. In 2001, she paid $50 million for a 42-acre estate known as “The Promised Land,” which is currently valued at about $90 million. She also owns a nearby horse farm that she bought at auction in 2015 for $28.95 million.

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Oprah’s new place is anchored by a 100-year-old home built by noted architect James Osborne Craig. Surrounding that are gardens, redwoods, oak groves, orchards, a guesthouse and a pool house. Equestrian features include a carriage house and horse facility with five stalls and a tack room.

Remodeled during the Bridges’ stay, living spaces feature dramatic beamed ceilings, bay windows and French doors. Multiple corner fireplaces are spread throughout the single-story interior.

In the master suite, a newly added bathroom boasts heated teak floors and a sleek shower of marble and glass. In total, there are three bedrooms and three bathrooms.

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Outside, the four-acre property features landscaped entertaining areas, a courtyard with a fountain, brick patios and a swimming pool and spa.

Sally Hanseth of Coldwell Banker Residential Brokerage handled both ends of the deal.

Bridges, 69, won an Academy Award in 2010 for the film “Crazy Heart.” His scores of movie credits also include “Hell or High Water” and “True Grit,” and last year he starred in “Bad Times at the El Royale.”

Winfrey, 65, hosted her syndicated talk show “The Oprah Winfrey Show” for 25 years and more than 4,500 episodes. In 2008, she launched her own cable channel, Oprah Winfrey Network. Forbes estimates her net worth at $2.7 billion.

Price-chop is Doc’s latest order

Los Angeles Clippers head coach Doc Rivers has put his home in the Hollywood Hills back in play at $11.25 million, down from about $12 million earlier this year.

Set on a cul-de-sac in the Bird Streets neighborhood, the Hamptons-inspired traditional house has a fireplace in the living room, a skylight-topped dining room and pocketing glass walls that extend the living space outward.

A hybrid island/breakfast booth anchors the kitchen, which opens to the family room. Three bedrooms and 4.5 bathrooms round out the single-story floor plan.

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Outside, grounds designed for year-round entertaining feature a swimming pool, a separate spa, mounted TVs, multiple fire features and a wraparound barbecue/bar. A separate guest suite and a sauna lie beneath the patio and are reached via a floating glass staircase.

Rivers, 58, is now in his seventh season with the Clippers. He earned NBA coach of the year honors in 2000 while with the Orlando Magic and won a championship in 2008 as head coach of the Boston Celtics.

In April, he agreed to a long-term contract extension with the Clippers.

Mary Swanson of Compass holds the listing.

All in the neighborhood

Joe Jonas and Nick Jonas no longer share the same address, but they aren’t exactly moving far apart, either.

The brothers of Jonas Brothers fame, who previously co-owned a home in Los Angeles, have purchased separate, newly built homes in Encino for $14.1 million and $20 million, respectively.

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The two purchases are among the highest prices ever paid for a home in the San Fernando Valley neighborhood, which has seen a smattering of sales north of $10 million this year.

Joe Jonas’ new house, which he shares with his wife, actress Sophie Turner, is a two-story contemporary with15,000 square feet of designer-curated space, high ceilings and pocketing walls of glass that open to outdoor living spaces.

Designed for entertaining, it has chef’s and prep kitchens, multiple living rooms, a home theater and a gym. A custom wine cellar sits behind a glass-and-steel wall in the formal dining room. Including a two-story guesthouse, there are 10 bedrooms and 14 bathrooms.

Nick Jonas’ home, which he bought with his wife, actress Priyanka Chopra, sits at the end of a long, gated driveway on more than three acres. Similarly equipped for indoor-outdoor living, the multilevel house has pocketing walls of glass that open to an expansive covered patio.

Among features of note are an indoor basketball court, a bowling alley and a home theater. There are seven bedrooms and 11 bathrooms.

Both sales best the previous Encino price record set by a newly built home that sold this year for $10.8 million.

Dennis Chernov of Keller Williams Realty and Adi Livyatan of Rodeo Realty were the listing agents for Nick Jonas’ property. Carl Gambino of Westside Estate Agency represented the buyers in both sales.

The Jonas Brothers reunited this year to release “Happiness Begins,” their first studio album since 2009.

Joe Jonas, 30, was previously performing with DNCE, the funk-pop band he founded in 2015. Nick Jonas, 27, appeared in this year’s war film “Midway” and has a role in the upcoming adventure film “Jumanji: Welcome to the Next Level.”

He has designs on a sale

Fashion designer Robert Rodriguez has listed his home in the flats of Beverly Hills for sale at $18.95 million.

Set on a tree-lined street, the Spanish-style home dates from 1927 but recently underwent a three-year renovation and expansion. Now polished to a fine sheen, the 7,314 square feet of living space has herringbone-patterned wood floors, custom millwork and crisp white interiors. A pair of 20-foot-long skylights top the two-story entry.

Pocketing doors conceal a hidden bar in the step-down living room, which is anchored by a custom fireplace. The open-concept kitchen is equipped with an island, built-in booth seating and a butler’s pantry. Including a separate guesthouse, there are six bedrooms and eight bathrooms.

Outside, grounds of about a third of an acre contain a swimming pool with a spa, lawn and a dining patio.

Rodriguez gained recognition at the Fashion Institute of Technology, where he received a Critics Award for Best Designer of the Year, before accepting a position at Christian Dior. He launched his own fashion line in 2003, which has gained a steady following among celebrities.

He bought the property three years ago for $8.7 million.

Kurt Rappaport and Daniel Dill of Westside Estate Agency hold the listing.

Who wants to be his buyer?

The Greenwich, Conn., home of longtime television host Regis Philbin and his wife, TV personality Joy Philbin, is for sale at $4.595 million, or about $2.6 million less than they paid for the property in 2008.

A long driveway leads past mature trees, lawn and garden pathways on the 2.6-acre estate, which centers on a stone-clad English manor of about 13,600 square feet.

Beyond the double-door entry, the six-bedroom, 12-bathroom house opens to a two-story foyer with a sweeping staircase. A formal dining room has paneled walls, and there’s a pub with a wet bar. The kitchen has been outfitted with a pair of islands.

A total of seven fireplaces are spread throughout three floors.

Outside, spacious terraces descend to a hedge-lined swimming pool with a fountain and diving board. A tennis court sits to the side. Across the property is a guesthouse with a kitchen, loft and bedroom.

Active in the entertainment world since the 1960s, Regis Philbin is best known for hosting “Who Wants to Be a Millionaire,” “Million Dollar Password” and “Live With Regis and Kathie Lee,” which later became “Live With Regis and Kelly.”

The 88-year-old holds the Guinness world record for most time spent in front of a television camera.

Joseph Barbieri of Sotheby’s International Realty holds the listing.