LeBron James buys a Los Angeles mansion for $56 million from the estate of the "Bold and the Beautiful" soap opera co-creator while Miley Cyrus is reported to have purchased a Hidden Hills home off-the-market.
Beverly Hills Home Under Contract
The LA Lakers superstar is under contract to purchase a home located in Beverly Hills belonging to Lee Phillip Bell, the Real Deal report said.
The mansion that sits on a 2.5-acre lot located at 9955 Beverly Grove Dr. was being offered on the market for $39 million. As to how much LeBron James is paying for the 13,000-square-foot property, it has not been disclosed yet.
The mansion was built in 1934 and features four bedrooms and eight bathrooms over a total of 9,146 square feet of living space, the Realtor.com report said. There are two-bedroom suites, multiple entertainment areas, seven fireplaces, and unobstructed city views. The residence features skylights, indoor fountains, and an entire wall of glass doors.
The property features elements that appeal to affluent buyers with its lighted tennis court, large motor court, and two detached guest houses along with super views; it makes sense if LeBron adds it to his collection of properties, an expert said.
The last that the property was sold was in 1986 when it went for $2.9 million. It will be LeBron's third L.A.mansion. He bought two in Brentwood worth $23 million and $21 million.
It's an Off-Market Deal for Miley Cyrus
Miley Cyrus has bought a Hidden Hills home from actor Scott Baio's brother Steven Baio in an off-market deal worth a little over $4.95 million, the Los Angeles Times report said.
Ms. Cyrus reportedly used a trust to seal the deal in late June. The house was built in 1957 on a 1.2 property. It boasts a wide-plank wood floor, new-look kitchen, vaulted ceilings, and a wet bar near entry decked out in Mercury glass.
The six-bedroom, 4.5-bathroom home features a home theater complete with a snack bar, a formal living, dining rooms, and family room within an approximately 6,000 square feet of living space. There is a sunken dining area, a lagoon-style swimming pool, and a barbecue pavilion.
As per records, the property was listed last summer for $5.099 million and was leased out at $39,000 per month. Miley sold her Hidden Hills ranch in 2018 for $5 million, which was the same amount she paid when she bought it, Los Angeles Times noted.
In late 2019, the NAR board approved a controversial policy meant to cut down on off-market listings or pocket listings, which is a widespread practice in the high-end residential market, particularly in cities such as New York, L.A, and Miami, according to a Real Deal report.
The policy requires that a property be listed on multiple listing services within 24 hours of marketing the property. The open listings policy came into effect on May 1, 2020.
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