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Media financier buys Steve Bochco’s Pacific Palisades house for $25M

A media financier has bought a 10,900-square-foot mansion in Pacific Palisades owned by the estate of the late TV producer Steven Bochco for $25 million — $10 million less than its asking price.

Joe Ravitch, co-founder of the New York-based Raine Group, purchased the seven-bedroom, 10-bath estate at 1575 Capri Drive in the Riviera, according to the Robb Report. The seller was Jesse Bochco, son of the creator of “NYPD Blue” and “Hill Street Blues.”

The 1.4-acre estate was designed in 1937 by African-American architect Paul Williams, who drew up mansions for the likes of Frank Sinatra, Lucille Ball, Cary Grant and Barbara Stanwyck.

The property, listed in August for $35 million, sits on a double-lot, making it one of the rare homes listed in the Palisades with more than an acre.

Brokers Aaron Kirman, Morgan Trent and Dalton Gomez of AKG at Christie’s International Real Estate held the listing.

Hidden behind gates and surrounded by a brick wall for privacy, the two-story mansion features numerous gables, bay windows and french doors encased in white walls and wood trim.

The main house includes a formal living room, a family room with a projector screen, a library, a chef’s kitchen, a gym, wine cellar and a private guest wing. The master bedroom has vaulted ceilings with dual bathrooms, walk-in closets and a fireplace.

The newly renovated home has a standalone guest house on the grounds, along with a swimming pool, spa, cabana and tennis court.

The house, whose rooms have been filled with movie stars and presidents, was once occupied by actor Sylvester Stallone.

Bochco, the 10-time Emmy Award winner behind 1980s and 1990s TV shows that include “L.A. Law,” “Doogie Howser, M.D” and “Cop Rock,” bought it in 1997.

The producer hosted charity events on its park-like grounds, with guests including U.S. presidents Barack Obama and Bill Clinton. Bochco died in 2018 at age 74.

Ravitch, whose Raine Group pocketed $65 million for advising the WWE on its recent takeover by the Endeavor Group, is moving to Los Angeles from New York, according to Robb. He has listed his three-bedroom apartment in Manhattan’s Gramercy Park for $5 million.

— Dana Bartholomew

https://therealdeal.com/la/2023/10/06/media-financier-buys-steve-bochcos-estate-for-25m/

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