Los Angeles County Museum of Art must be in for a good luck as a $40 million worth in value of house is being donated to them by millionaire James F. Goldstein, according to a report from The Real Deal.
The NBA super fan bought the house in 1972 for $185,000 and today the house has an estimated value of $40 million. Goldstein ever since spent years and years beautifying and expanding it. The Big Lebowski, as what the house is known, is a film by Coen brothers. It was designed by famous architect John Lautner and is situated in the Beverly Crest hills in Los Angeles. The property has glass walls with crazy views.
Along with the donation comes the $17 million endowment for property maintenance. Goldstein describes the current worth of the house as "conservative." Based on the same report, LACMA will organize tours inside for a limited time while Goldstein is still on it. This is to give the public a chance of taking a glimpse of the luxurious property. The museum plans to use the property for exhibitions, conferences and fundraising events. It will also be utilized as a space for events and for architectural students' resource for studies.
Fortune reported that the donation will take effect after Goldstein's passing and this will include the entire house with all of its contents (including Goldstein's fashion and art collection). Museum Director Michael Goven told Fortune this will be Los Angeles' first ever procurement of an architectural landmark. After a meeting with Goven, Goldstein told the news he was impressed with the director's appreciation for the rich history of the house and the role it plays in LA's cultural life. Goven describes the property as an exceptional example of domestic architecture. Goldstein expresses hopes that his donation will serve as an encouragement to others to keep the architectural heritage of Los Angeles for future generation.