October 2018 Update: SOLD! After years of being on and off the market, 1 Buggy Whip Drive, Rolling Hills, CA sold for $22,400,000.
Hacienda De La Paz re-entered the Palos Verdes real estate market recently at the exorbitant price of $53,000,000. That chart-topping price is well above all previous sales for single-family residences on the Palos Verdes Peninsula. Per MLS records, $15,500,000 is currently the top price paid for a home. That Palos Verdes Estates property sold in 2015 and had over 200 feet of ocean frontage. The lot was over 116,000 Sq. Ft.
Is it worth it? Value is in the eye of the beholder (and real estate appraisals), and any appraiser would need to travel to Beverly Hills and Malibu to find comparable properties.
Speaking of Beverly Hills, the listing agents are from Beverly Hills. They held a show-stopping open house event yesterday. They offered guided tours of the Rolling Hills property with 51,000 Sq. Ft. of living space, including nine bedrooms and twenty-five bathrooms. There is magnificent attention to details throughout the home. (Listed by Josh Altman, Douglas Elliman, Santiago Arana, The Agency.)
The eight-acre setting offers sweeping views, the utmost privacy and luxury amenities too numerous to list. It’s a one-of-a-kind property and touring it is a one-of-a-kind experience.
Will Beverly Hills prices succeed in Palos Verdes? Offers, or the lack thereof, and time will tell. Call us for an update or to arrange your tour.
- Norma Toering 310-493-8333