Home of the Week
Holmby Hills Estate
Located in a part of town where moguls and movie stars make their home, this storied estate can be yours for $23.5 million. But that's twice what the owners paid for it two years ago.
The 10,000-square-foot, country English-style mansion is located on two acres near Beverly Hills, in the Holmby Hills enclave of Los Angeles. Built in 1938, the house was once owned by the vaudevillian and comedienne, Fanny Brice, of Funny Girl fame. In later years, Sandra Moss, former wife of Jerry Moss, who founded A&M Records along with Herb Alpert, occupied the residence. In 1992, Sandra Moss sold the property to the movie producer, Alan Ladd Jr., the son of the late actor, Alan Ladd.
Media management executive Dennis Holt and his wife Brooks purchased the property in 1998 from Ladd for about $11 million. Just last month, a 14,000-square foot mansion owned by Kroll-O'Gara (nasdaq:KROG - news - people) Vice Chairman Tom O'Gara sold on the same street as the Holt home for $13.5 million. And although Holt's property has more land than O'Gara's, two acres as opposed to a little over one acre, Holt may still have a hard time finding a buyer at that price.
More than 30 years ago, Holt founded Western International Media, currently known as Initiative Media. The privately held company was one of the first, and is still the largest, media-buying company in the U.S.
In 1994, Holt sold Western International Media to The Interpublic Group of Companies (NYSE: IPG - news - people) for a reported $50 million. In 1999, he founded Patriot Communications LLC, a telecommunications company based in Los Angeles.
The Holt home has a master suite with his-and-hers bathrooms as well as three additional bedroom suites. It has a movie theater, a wine cellar and six fireplaces. The property also features a north-south tennis court, a swimming pool and two guesthouses. For more information on this property, contact Joyce Flaherty of Coldwell Banker at (310) 273-3113. --Felicia Paik
http://www.forbes.com/2001/03/30/0330how.html
Holmby Hills Estate
Located in a part of town where moguls and movie stars make their home, this storied estate can be yours for $23.5 million. But that's twice what the owners paid for it two years ago.
The 10,000-square-foot, country English-style mansion is located on two acres near Beverly Hills, in the Holmby Hills enclave of Los Angeles. Built in 1938, the house was once owned by the vaudevillian and comedienne, Fanny Brice, of Funny Girl fame. In later years, Sandra Moss, former wife of Jerry Moss, who founded A&M Records along with Herb Alpert, occupied the residence. In 1992, Sandra Moss sold the property to the movie producer, Alan Ladd Jr., the son of the late actor, Alan Ladd.
Media management executive Dennis Holt and his wife Brooks purchased the property in 1998 from Ladd for about $11 million. Just last month, a 14,000-square foot mansion owned by Kroll-O'Gara (nasdaq:KROG - news - people) Vice Chairman Tom O'Gara sold on the same street as the Holt home for $13.5 million. And although Holt's property has more land than O'Gara's, two acres as opposed to a little over one acre, Holt may still have a hard time finding a buyer at that price.
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| In the movie capital of the world, why not have a dramatic staircase to make a dramatic entrance? | |
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More than 30 years ago, Holt founded Western International Media, currently known as Initiative Media. The privately held company was one of the first, and is still the largest, media-buying company in the U.S.
In 1994, Holt sold Western International Media to The Interpublic Group of Companies (NYSE: IPG - news - people) for a reported $50 million. In 1999, he founded Patriot Communications LLC, a telecommunications company based in Los Angeles.
The Holt home has a master suite with his-and-hers bathrooms as well as three additional bedroom suites. It has a movie theater, a wine cellar and six fireplaces. The property also features a north-south tennis court, a swimming pool and two guesthouses. For more information on this property, contact Joyce Flaherty of Coldwell Banker at (310) 273-3113. --Felicia Paik
Forbes Fact
Situated between Beverly Hills and Bel-Air, Holmby Hills is one of the most desirable residential enclaves in Los Angeles, with properties easily selling in the double-digit millions of dollars. The city's bold-faced names like to live here, including Playboy magazine founder Hugh Hefner, television producer Aaron Spelling and Internet mogul David Bohnett. In years past, showbiz types such as Barbra Streisand, Gary Cooper and Sonny and Cher have all called Holmby Hills home. -- F.Phttp://www.forbes.com/2001/03/30/0330how.html
