A historic 5.8-acre estate in Holmby Hills, which includes the former 1925 Spanish Colonial Revival mansion of rock star Rod Stewart, has sold in two separate deals totaling $86 million (£68 million).
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which → include → million
According to real estate records published by
The Wall Street Journal and reported by
Galerie Magazine, the combined sales end more than 30 years of ownership by daytime television executive producer Bradley Bell and his wife, former diplomat Colleen Bell.
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sales → accord → Bell
The couple bought the original house from Stewart in 1992 for $6.25 million.
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couple → buy → million
They then spent two years restoring the property while also buying nearby land, eventually creating a nearly six-acre estate in one of Los Angeles' most exclusive neighborhoods.
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They → spend → neighborhoods
Instead of selling the full 5.8-acre property to one buyer, the owners divided it into two separate parcels.
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owners → sell → parcels
The larger parcel covers about four acres and includes the main 17,000-square-foot mansion.
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parcel → cover → mansion
It sold for $57 million to television, commercial and film producer David Zander.
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It → sell → Zander
According to
Galerie Magazine, Zander has previously bought and restored important historic homes, including Lasata, the historic Hamptons estate where Jacqueline Kennedy Onassis spent summers as a child.
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Onassis → accord → child
Real estate broker Drew Fenton of Carolwood Estates represented Zander, while Ben Bacal of Revel Real Estate represented the sellers.
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Bacal → represent → sellers
The second parcel covers about two acres and includes a historic cabin dating to around 1911.
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parcel → cover → 1911
It sold for about $29 million to Nick Kaiser, co-founder of private equity firm Marlin Equity Partners.
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It → sell → Partners
The main house has an important place in Southern California's architectural history.
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house → have → history
Retired distillery executive Henry Kern and his wife, Elsa Mary Kern, commissioned the home in 1925.
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Kern → commission → 1925
Montecito architect George Washington Smith designed the mansion and was one of the early leaders of the Spanish Colonial Revival style.
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Smith → design → style
In
The Legendary Estates of Beverly Hills, the late real estate historian Jeff Hyland wrote that the Kerns encouraged Smith to use much more detailed decoration than he normally preferred.
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he → write → decoration
Stewart bought the house in the 1970s and made several major design changes.
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Stewart → buy → changes
These included adding marble floors and an Art Nouveau-style disco room.
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These → include → floors
After buying the property in 1992, Bradley and Colleen Bell began a careful two-year restoration to remove those changes.
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Bradley → buy → changes
They took out the marble flooring to uncover Smith's original hand-laid tile floors.
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They → take → floors
They also removed later ceiling additions to reveal the historic carved coffered ceilings.
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They → remove → ceilings
Over the years, the couple continued to expand the property by buying nearby land.
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couple → continue → land
Some of that acreage came from their neighbor, actor Gregory Peck.
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Some → come → neighbor
After the restoration and expansion, the property became a large private retreat that combines 1920s architecture with modern luxury features.
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that → become → features
The estate includes a 17,000-square-foot main house and a guest house, with a total of 13 bedrooms and 19 bathrooms.
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estate → include → bedrooms
Major features across the house and grounds include:
- Brèche de Vendôme marble floors and two-story art gallery walls.
- A formal dining room that can seat 20 guests.
- A green wood-paneled speakeasy and private screening room.
- Two fully equipped gyms and a private tearoom.
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that → include → gyms
The combined $86 million sale is one of the largest residential real estate transactions recorded in Los Angeles.
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sale → combine → Angeles
It also highlights continued interest in large historic estates in prime Westside neighborhoods.
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It → highlight → neighborhoods
The Aporia
