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$35 Million Condo In Century City, Los Angeles | $12 Million Price Reduction For Candy Spelling's Condo

By COMPASS PALM SPRINGS | Stewart Penn

Real Estate Agent with COMPASS DRE# 01339266

December 08, 2010 02:55 PM

It's official - Candy Spelling paid $35 Million for her Century City condo.

Curbed LA reports that "Two and half years after the record-setting deal was first announced, Candy Spelling closed today on her penthouse at The Century in Century City. Spelling paid $35 million for the two-story penthouse."

The $35 Million price tag is substantially lower than the $47 Million originally reported, reflecting the depressed Real Estate Market in addition to "the fact that the final build-out square footage of Spelling's penthouse (15,555 square feet) is 1,000 square feet smaller than anticipated."

Candy Spelling's Holmby Hills Mansion is on the market for an astounding $150 Million.

Candy Spelling Condo

Photo courtesy of The LA Times.

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Kathy Knight

Intracoastal Realty Corp - Wilmington, NC

BROKER, ABR, CRS, GRI, SFR, SRES

Wow that a lot to spend on a condo..... Stewart...

Dec 08, 2010 01:39 PM

Ron and Alexandra Seigel

Napa Consultants - Carpinteria, CA

Luxury Real Estate Branding, Marketing & Strategy

Stewart,

It is certainly an impressive home, and it is obvious that prices are normalizing...or will they go down further...A

Dec 08, 2010 01:41 PM

Rodney Mason, VP of Mtg Lending

Guaranteed Rate NMLS# 2611 - Atlanta, GA

AL,AR,AZ,CA,CO,FL,GA,IN,MI,MS,NC,NV,SC,TN,TX,VA,WA

I guess it was nice that she could afford to buy the condo without having to sell her old home. I wonder how many gift wrapping rooms the condo has.

Dec 08, 2010 02:21 PM

Franklin & Brentwood, TN Homes Mike Nastri

Keller Williams Realty - Franklin, TN

It matters to us as much as it matters to you.

I think I might have cut my commission one side of that deal.

Dec 08, 2010 03:00 PM

COMPASS PALM SPRINGS | Stewart Penn

COMPASS - Palm Springs, CA

COMPASS Palm Springs - Broker Associate

Kathy - At $35 Million, it's only $2250 per sq ft ...!

Ron - Is there anyone in the world who will pay $150 Million for a single family home?

If you'd care for a bet, I'll say the house eventually sells for $80 - $100 Million.

Rodney - At least the Purchase wasn't conditional upon the Sale :)

Dec 08, 2010 03:08 PM

Trisha Bush-LeFore

Preferred Properties Land & Homes - Walla Walla, WA

Providing Realtor Services in the Walla Walla Area

Well that puts a whole new spin on my definition of a condo. Sounds fabulous and very, very spacious!

Dec 08, 2010 03:55 PM

Jeff Dowler, CRS

eXp Realty of California, Inc. - Carlsbad, CA

The Southern California Relocation Dude

Guess she got a deal. Too bad she can't sell her manse which I think has been on the market for quite some time. Seems to me she had her dog help her pick her agent from what the media reported.

Jeff

Dec 08, 2010 03:59 PM

Wallace S. Gibson, CPM

Gibson Management Group, Ltd. - Charlottesville, VA

LandlordWhisperer

I guess downsizing is difficult at any property price-range * I'd LOVE to have a gift wrapping room....mine is called my BASEMENT!

Dec 08, 2010 10:26 PM

Steve, Joel & Steve A. Chain

Chain Real Estate Investments & Mortgage, Steve & Joel Chain - Cottonwood, CA

If price were no option Ms. Spellings 150M house also reflects a very personalized taste, as I remember.

Steve

Dec 09, 2010 04:05 AM

David - The master suite is rumored to be about 4000 sq ft.

I keep wondering why anyone in the world needs a 4000 sq ft bedroom?

Jeff - I think "The Manor" will be on the market for a long, long time.

Steve & Joel - Exactly .... It's a specific style.

Dec 09, 2010 04:41 AM

Sharon Paxson

Sharon Paxson, Realtor® EQTY Forbes Global Properties - Newport Beach, CA

Newport Beach Real Estate

Stewart - that is pricey for a condo - and just like in the Newport Beach area, the Portabello closed for somewhere between 30 - 35 million (undisclosed amount). Originally listed years ago for 75 million.

Dec 09, 2010 07:56 AM

$35 Million Condo In Century City, Los Angeles | $12 Million Price Reduction For Candy Spelling's Condo

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