Silicon Beach techies are moving further inland to Brentwood “No one wants to be picketed at their house”

Evan Spiegel and Elon Musk in Brentwood (Credit: Getty Images)

Evan Spiegel and Elon Musk in Brentwood (Credit: Getty Images)

So long to the hippies in Venice and the tourists in Santa Monica — Silicon Beach elites are now opting for family-friendly Brentwood.

The “bros” of Silicon Beach are increasingly choosing Brentwood, a wealthy (and more inland) neighborhood home to sprawling estates, rather than the oceanside cities of Playa del Rey, Venice and Santa Monica, according to The Hollywood Reporter.

In the last decade, Silicon Beach has grown to be a respectable technology hub as Snap Inc., Tesla, Riot Games, Google and Yahoo settled on the sandy coast.

Its presence in Venice — largely driven by Snapchat’s unique real estate strategy of having several offices as opposed to single headquarters — has led to much neighborhood backlash, involving petitions and rallies against the social media company.

Aside from escaping the complaining neighbors, those in the C-suite are also finding they can get more for their buck over in Brentwood, especially considering prices are breaking records and inventory is dwindling in the adjacent areas to the west.

“Most of these people have families, so they want bigger pieces of land,” Santiago Arana of the Agency told THR. “No one wants to be picketed at their house,” added Halton Pardee and Partner’s Tami Pardee, who said privacy is a top concern for the founders, who have become the targets of gentrification protests in Venice.

Among those settling in to the quiet neighborhood are Snap’s Evan Spiegel and his supermodel wife Miranda Kerr, who dropped $12 million for a residence behind the esteemed Getty Museum. Zillow founder Spencer Rascoff snagged a Brentwood Park mansion for $20 million last year, just under what Riot Games executive Brandon Beck paid for his $21.5 million mansion in 2015. Tesla founder Elon Musk, Snap chairman Michael Lynton, Disney executive Sean Bailey and Yahoo executive Mickie Rosen also own homes in the zip code. [THR]Natalie Hoberman


Brentwood Park home of former Williams-Sonoma owner lists for $32.5M

Estate belonged to the late Jay McMahan, who headed McMahan’s Furniture

May 22, 2017 09:30AM
By Subrina Hudson

The estate of the late furniture magnate James “Jay” McMahan and his wife Jaqueline has hit the market for a whopping $32.5 million, The Real Deal has learned.

Photo Credit: MLS

Photo Credit: MLS

The couple’s children took over the more than two-acre gated estate on Oakmont Drive after Jaqueline died in January. The home has eight bedrooms, seven bathrooms, a tennis court, a swimming pool and a koi pond. Its square footage wasn’t disclosed. 

Drew Fenton of Hilton & Hyland has the listing.

McMahan took over his father’s namesake furniture business in 1951, heading the retail chain until it shuttered in 2008. He also purchased Williams-Sonoma in 1978 with partner Howard Lester for $100,000, according to the Los Angeles Times. He served as its director until 2003 and as a director emeritus until his death in 2011.

Jacqueline McMahan co-founded the antique dollhouse and miniature museum Angels Attics in Santa Monica. The museum closed this month, four months after her death, after the building traded hands for $3 million, or $1,107 a square foot, to a private investor, according to a release last week by listing agent T.C. Macker of Coldwell Banker Commercial.


Tom Hanks sells a pair of Pacific Palisades houses for $17.5M

They’re right next door to one another

by Elijah Chiland May 14, 2017, 1:40pm PDT

Photo Credit: Google Maps

Photo Credit: Google Maps

Patience has paid off for Academy Award-winning actor Tom Hanks and his wife, Rita Wilson. Nearly a year ago, the couple listed two Pacific Palisades homes located right next to one another for a combined $18 million. Now, Variety reports that a single buyer has purchased both properties for just over $17.5 million.

The smaller of the two homes, a 1933 Spanish-style with close to 4,000 square feet in floor area, sold for over $1 million under its $8.75 million asking price. But the other home, a 7,300-square-foot English-style mansion built in 1957 fetched over $10.1 million—well above the $9.25 million asking price.

Hanks and Wilson purchased the two properties in separate sales for a combined $13.1 million, so the couple has certainly scored a nice profit on the homes.

Oddly, the two actors own a third home right next door to the sold properties, which they appear to be hanging on to for now. It’s not their only Pacific Palisades residence either. In 2010, they paid $26 million for a 14,500-square-foot home formerly owned by producers Kathleen Kennedy and Frank Marshall (both have produced multiple movies starring Hanks).

Hanks and Wilson also sold a somewhat grandmotherly residence in 2013—also in Pacific Palisades. The couple certainly seem to be fans of the neighborhood.