The past seven days belonged to the estates with names. Bel Air’s most storied private residence finally has a publicly known owner. One of Beverly Hills’ largest gated holdings has come to market at an eight-figure ask that would rank among the year’s highest. A Los Feliz landmark with roots in Hollywood’s silent era changed hands, and on the Westside, a custom Venice build is poised to set a new benchmark for the neighborhood. Beneath the headlines, borrowing costs crossed a threshold not seen since early 2025 — a reminder that at this level of the market, the buyers who matter rarely need a lender at all.
Transactions
Peter Thiel Emerges as the Buyer Behind Casa Encantada’s $130 Million Sale
The identity behind the summer’s most closely watched auction is no longer a secret. A limited liability company tied to Palantir and PayPal co-founder Peter Thiel was the winning bidder for Casa Encantada, the 1930s-era estate at 10644 Bellagio Road, The Real Deal reports. The property sold for $130 million in July at a foreclosure auction held at Pomona’s Civic Center Plaza, and Thiel had reportedly been weighing the roughly 40,000-square-foot residence for months beforehand.
Long the home of the late financier Gary Winnick and his wife, Karen, Casa Encantada first came to market after Winnick’s death in 2023 at $250 million. Successive reductions brought the ask to roughly $165 million to $170 million without producing a buyer, and the estate ultimately traded through the courthouse steps rather than the conventional listing process.
- $130M — Auction Sale Price
- $250M — Original Asking Price
- ~40,000 — Square Feet
For Bel Air, the reveal matters as much as the price. A buyer of Thiel’s profile placing nine figures into a single trophy residence is a vote of confidence in the enclave’s permanence — even as the path to that sale confirms that at the very top, the market sets the number, not the seller.
Notable Listings
Tyler Perry Offers His 22.5-Acre Beverly Ridge Estate at $57 Million
Tyler Perry has listed his Beverly Hills estate for $57 million as he prepares to relocate to Puerto Rico at the start of 2027. The 22.5-acre property sits within the gated Beverly Ridge Estates community and centers on a Mediterranean-style residence of roughly 24,500 square feet with eight bedrooms, twelve bathrooms, a library, screening room, guesthouse and staff quarters.
The home’s guest book is as notable as its acreage: Oprah Winfrey and Barack Obama have been entertained there, and Prince Harry and Meghan Markle lived on the property temporarily after arriving in the United States in 2020. The listing follows Perry’s June offering of his Jackson Hole, Wyoming, retreat at $39.5 million, bringing his combined asking prices this year to $96.5 million.
Twenty-two acres behind a gate in Beverly Hills is not a category with many comparables — which is precisely the argument for its price.
Transactions
Angelina Jolie Sells the Cecil B. DeMille Estate in Los Feliz for $24.75 Million
Four months after bringing it to market at $29.9 million, Angelina Jolie has sold her Los Feliz estate for $24.75 million as she weighs a move abroad. Sotheby’s International Realty’s Ernie Carswell and Resident Group’s Jon Grauman represented the property; the buyer was not disclosed.
Built in 1913 and acquired by Cecil B. DeMille in 1916, the residence was later joined to a neighboring home once owned by Charlie Chaplin. Today it spans roughly 11,000 square feet with six bedrooms and ten bathrooms on two gated acres. Jolie paid $24.5 million for the estate in 2017, so the sale lands essentially flat after nine years of ownership — about 17 percent below the spring asking price.
- $24.75M — Sale Price
- $29.9M — May 2026 Ask
- $24.5M — 2017 Purchase Price
Contracts
Jesse Bochco’s Custom Venice Home Goes Into Contract Near $13 Million
On the Westside, director and producer Jesse Bochco — son of television legend Steven Bochco — and his wife, interior designer Rae Bochco, have a buyer for the home they built at 746 Milwood Avenue. The residence is in contract at an asking price of almost $13 million, or about $2,012 per square foot, positioning it as one of the priciest residential sales Venice has recorded.
Completed in 2022 on a double lot, the home was first offered at $15 million. That a design-led new build could command a committed buyer near $13 million in a neighborhood better known for walk-streets and bungalows speaks to how far Venice’s upper tier has matured — and to the premium buyers now place on turnkey, architecturally distinct product.
Market Pulse
A snapshot of the numbers and signals shaping the week.
- Borrowing costs crossed 7 percent. The 30-year fixed rate averaged 7.03 percent in Freddie Mac’s September 24 survey, up from 6.95 percent the prior week and the first reading above 7 percent since January 2025.
- Distress has a price. The Sunset Plaza Drive mansion made infamous by squatters and graffiti has listed for $4.4 million — roughly half what the 11,152-square-foot home could command in perfect condition, with repairs estimated in the millions.
- Creative assets are trading. Two Valley recording studios — Track Record in North Hollywood and L.A. Studios in Studio City — have listed at $5.3 million and $6 million as investors circle music spaces.
The Takeaway
Pedigree Still Commands a Buyer — at the Market’s Price
This week’s stories share a common thread: provenance attracts the right buyer, but it no longer dictates the number. Casa Encantada found its owner at roughly half its original ask. The DeMille estate traded near what Jolie paid nearly a decade ago. Yet in each case, a buyer of real means stepped forward — and for exceptional properties, that depth of demand remains the defining feature of Los Angeles at the top.
With rates now above 7 percent, the financed segment of the market will feel the pressure first. For cash buyers, that creates a window of negotiating leverage on long-listed homes. For sellers of legacy estates, the lesson is to price to today’s buyer from the outset — the history of the house sells the showing, but the market still sets the close.
For guidance on navigating the current luxury market, contact Aram Afshar at [email protected].