A Star’s Legacy: The No. 1 Spot in L.A. Cou nty Contracts
Jim Carrey’s sprawling Brentwood ranch estate, last listed at $19.8 million, has taken the top spot among Los Angeles County’s luxury homes under contract this week. This impressive property, located at 615 North Tigertail Road, represents not only a slice of celebrity history but also a significant marker in the region’s high-end real estate market.
The latest report from Douglas Elliman’s Eklund Gomes Team, known as the Eklund Weekly Luxury Report Los Angeles, reveals that this estate has driven an uptick in overall asking dollar volume for luxury homes listed on the MLS for $4 million or more. Represented by Sotheby’s International Realty’s Janelle Friedman and Graham J. Larson, the property has captured widespread attention.
A Glimpse Into the Brentwood Estate
Built in 1951, the five-bedroom, nine-bathroom home offers nearly 11,000 square feet of living space on a lush 2-acre lot. Designed with a blend of sophistication and comfort, the property features:
- Six Fireplaces: Providing warmth and ambiance throughout the home.
- Art Deco Theater: A nod to Carrey’s film career, ideal for private screenings.
- Tennis Court and Waterfall Pool: Perfect for recreation and relaxation.
- Guest House: An additional space for visitors or creative retreats.
The estate’s classic charm is complemented by modern amenities, making it a perfect blend of timeless elegance and contemporary luxury.
“I want someone else to enjoy it like I have,” Carrey shared with the Wall Street Journal, reflecting on the emotional connection to his long-time residence. The home’s stunning features and serene environment underscore why it’s such a coveted property in the Brentwood area.
Market Journey: From $28.9M to $19.8M
Initially hitting the market in February with a $28.9 million price tag, the home has seen a series of reductions, with the most recent re-listing in September setting its final asking price at $19.8 million. These price adjustments highlight the challenges and strategies involved in selling luxury properties, even in a competitive market like Los Angeles.
Carrey’s decision to reduce the price reflects a broader trend in luxury real estate, where sellers are increasingly aligning pricing with market conditions to attract qualified buyers. Despite the adjustments, the estate’s unique features and celebrity association have kept it in the spotlight.
L.A.’s Luxury Market Trends
According to the Eklund Gomes’ weekly roundup, a dozen luxury homes went under contract last week, representing a combined asking dollar volume of nearly $108 million. This marked a notable rise from the previous week’s nine contracts totaling $52.4 million. These numbers demonstrate the resilience and dynamism of L.A.’s high-end real estate market.
While single-family homes often dominate these weekly updates, two high-end condominiums also secured contracts. Among them, a $15 million unit at the Rosewood Residences Beverly Hills showcased the growing appeal of luxury condos. This three-bedroom, four-bathroom residence spans nearly 4,300 square feet, featuring a 1,522-square-foot terrace with a private pool, barbecue, and lounge area.
The presence of luxury condos in the weekly roundup highlights an evolving market trend where buyers are seeking a balance between privacy and convenience. High-end condominiums, with their turnkey lifestyle and premium amenities, are becoming increasingly attractive to affluent buyers.
The Broader Implications for Celebrity Real Estate
Jim Carrey’s Brentwood estate sale is more than just a transaction; it’s a reflection of the enduring allure of celebrity-owned properties. Homes owned by Hollywood icons often carry a mystique and charm that elevate their appeal in the luxury market. The history, design, and personal touches of a celebrity owner add intangible value that resonates with buyers.
Moreover, Carrey’s decision to sell his long-time home may inspire other celebrities to reevaluate their real estate portfolios, potentially adding more high-profile listings to the market. This influx could invigorate the luxury sector, providing opportunities for buyers and agents alike.
Looking Ahead: Luxury Real Estate Through the Holidays
Marcy Roth of Eklund Gomes predicts that residential activity will likely remain steady through the holiday season, barring additional high-profile contracts like Carrey’s estate. The celebrity’s sale underscores a broader trend in L.A.’s luxury market, where distinctive properties continue to draw interest despite seasonal slowdowns.
The resilience of the market is a testament to Los Angeles’ unique appeal as a hub for luxury living. Its combination of iconic properties, favorable weather, and a vibrant cultural scene ensures that demand remains strong, even during quieter times of the year.
Conclusion: The Allure of Celebrity Real Estate
Jim Carrey’s Brentwood estate exemplifies the enduring appeal of celebrity real estate, blending luxurious amenities with Hollywood history. As the property transitions to a new owner, it marks the end of an era for the beloved actor while offering an exciting new chapter for its next residents.
This high-profile contract also serves as a testament to the resilience of L.A.’s luxury market, where iconic homes like this continue to set the bar. For buyers and investors, the sale highlights the unique opportunities available in a market defined by its glamour, exclusivity, and timeless appeal.