Billboard Highris bought the Los Angeles Mansion for 24 million – variety

It’s too early to confirm, but L.A. Its ultra-high-end property market could carefully emerge from its coronavirus-induced cocoon. David Jeffen recently lost ever 65 million to the Beverly Hills estate, Elon Musk sold his 29 29 million Bell Air home to a Chinese millionaire, rapper Travis Scott Brentwood and Sigram’s heiress Ellen Bronfman and her husband Andrew Haupman. Millions of dollars for extensive Malibu compounds.

A local resident of the Pacific Palisades recently went hunting for a residential upgrade, quickly falling for a brand-new estate with every designer convenience and Pacific view of the Pacific Ocean. Despite the ongoing epidemic, records reveal that he received only a slight discount on the property. Originally listed earlier this year with a ্যাগ 26 million price tag – the most expensive list on the policy at the time – the house was moved to 24 million.

Despite the high numbers in the sky, buyers can easily afford this deluxe estate – she is the only daughter of New York billboard tycoon Richard Scapes, the founder of Van Wagner Communications. Now in its 70s, Scaps has transformed Van Wagner from just another small ad shop to one of the world’s largest privately owned billboards / outdoor advertising agencies, earning millions of dollars annually in NYC’s Times Square and lucrative advertising space.

In 2014, CBS bought Van Wagner’s outdoor assets – now known as Outfront Media – total. At 90 690 million, the cash deal is the biggest exit ever for an outdoor advertising agency. This acquisition made the Scapes family unimaginably rich; Today, Scapes and his wife have landmark residences in Manhattan and Palm Beach.

The buyer for what it is worth is businessman Spencer Rascoff’s first cousin, co-founder and former CEO of Longtime Geo. And she is married to Brett Thomas, an entrepreneurial capitalist at CAU Venture Partners, a Visa firm, dedicated to investing in the consumer goods business at an early stage. (CAVU, perhaps surprisingly, used the billboard ad heavily to promote their various brands))

Set in one of the best streets in the city, the lavish villa is equipped with manicured hedges and a huge driveway behind the gate and protected by a sophisticated security system with additional cameras. The triple-level home was designed by husband and wife David and Eliana Rockach, boasts more than 13,500 square feet of living space with nine bedrooms and 12 baths, and additionally includes a 10-car “auto gallery” for an automobile – the owner of the collection.

The wide plank hardwood floors blend well with the soft neutral tones of the house and the main level public spaces are open to each other – the living, family and dining rooms flow together seamlessly, while the glass walls flood the rooms from the roof to the living room. The grassland courtyard is open with an electric steel door at the touch of a button, there is a BBQ area, Alfresco dining and an endless edge swimming pool. The architectural digest-worthy kitchen, as part of it, is furnished with a visually pleasing blue-gray marble and provides designer equipment, a snack bar and separate butler pantry.

Almost every room on the main and upper floors of the house opens onto various balconies and terraces with spectacular views. Upstairs, the master suite includes dual bathrooms decorated with a rare quartzite stone, while the bedroom has double-folded steel doors that open to a private setting. The ground floor, meanwhile, packs a wellness center with a gym, a huge media room, sauna and an elevator. And from the backyard, there is an epic spectacle that rises above the wooden Santa Monica Canyon and to the summit of the deep blue sea, a mass within the horizon of Catalina Island.

Thomases is not new to Palisades – in 2018, they paid about 14 14 million for a Cape Cod-style mansion set up on one of the best streets in the fashionable Riviera neighborhood. This “starter” house, with its striking all-white interior, was set to open this week at a price of. 14.995 million.

Steven Schaefer and Jay Luchs of Newmark Residential handled both sides of the transaction.