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Mansion above Sunset Boulevard pushes up asking price to $43M

The Bird Streets and adjacent neighborhoods want to fly high on asking prices.

A newly constructed mansion in Hollywood Hills West at 1680 North Doheny Drive listed on Jan. 24 for $43 million, making it one of the priciest offerings in the enclave above Sunset Boulevard.

The seller is Texas-headquartered entity Caydon La Hills Residential Property, a limited liability company linked to Australian developer Caydon Property Group, which bought the property in 2018 for $5.4 million.

At a time when the luxury market is soft, a number of sellers in the Hollywood Hills and Bird Streets markets are looking up. According to a Zillow search, the next priciest option in the neighborhood is in the Bird Streets at 1380 Mockingbird Place, priced for about $40 million. Another area home in the same price range is 1851 North Stanley Avenue at $38 million. Outliers include the mansion at 1898 Rising Glen Road, which listed for $78 million during October.

The Doheny Drive home’s listing agents are Aaron Kirman of AKG | Christie’s International Real Estate and Branden and Rayni Williams of The Beverly Hills Estates.

Kirman said he was bullish on the price for the house because of its architectural design by Vantage Design Group; it’s built into a rocky promontory overlooking Los Angeles.

“It’s a super trophy site,” Kirman said.

Jason Oppenheim, a veteran of Bird Streets deals and president of The Oppenheim Group, forecast the property would sell somewhere in the $30 millions.

“I think it’s on the low end of aspirational,” Oppenheim said of 1680 North Doheny.

While he forecast that the Bird Streets area market would eventually command asks of $100 million, the current market probably would not justify the asking price for 1680 North Doheny.

Oppenheim brokered area deals such as 8408 Hillside Avenue, where he served as a co-listing agent for a $36 million deal in 2019. He currently represents a neighboring house to 1680 North Doheny. His listing with Mary Fitzgerald at 1375 North Doheny Drive has an ask for $28.5 million.

Based on more than an acre, the 13,500-square-foot house features concrete and steel materials, according to a listing description. The home also offers amenities such as a commercial elevator, 4,000 square feet of outdoor deck space, an infinity edge pool, a spa and gardens with a citrus grove.

https://therealdeal.com/la/2024/01/26/mansion-over-sunset-boulevard-pushes-asking-price-to-43m/

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