There goes the neighborhood. In the wake of several recent big-ticket sales in Los Angeles’ Holmby Hills, another large estate in the area is headed to market asking $79 million.
The onetime home of socialite Edith Mayer Goetz, the estate contains an 11-bedroom Georgian Revival mansion built in the 1930s, according to Jeff Hyland of Hilton & Hyland, who has the listing with colleague Drew Fenton and Aaron Kirman of John Aaroe Group. Consisting of two lots totaling more than 4 acres, the property also contains three guesthouses, two swimming pools and two greenhouses. The grounds include a tennis court and a funicular for access up and down a hill on the property, Mr. Hyland said.
The roughly 20,000-square-foot mansion has a screening room where Ms. Goetz, daughter of movie mogul Louis B. Mayer, and her husband, film producer William Goetz, often showed pre-release movies, according to their daughter, Barbara Windom. A den retains its art deco look, with herringbone floors and oak paneling, said Mr. Hyland, noting that a buyer will likely remodel the house.
The seller is investor Gary L. Wilson, former chairman of Northwest Airlines, who bought the main house in the early 1990s from the estate of Ms. Goetz, according to public records. When the property next door became available, Mr. Wilson bought it and combined the two into one estate. Mr. Wilson is selling because he’s purchased another house and no longer lives there, Mr. Hyland said.
In recent weeks Holmby Hills has seen several large sales. The Owlwood estate on roughly 10 acres traded hands earlier this month for $90 million, and the Playboy Mansion sold in August for $100 million. Mr. Hyland attributed the spate of sales to a lack of inventory of high-end homes on the West Side of Los Angeles.
Write to Candace Taylor at Candace.Taylor@wsj.com
Original article: http://www.wsj.com/articles/investor-gary-l-wilson-lists-los-angeles-estate-for-79-million-1475160807