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.
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.