Wednesday, July 18, 2012

Goldie and Kurt List Pacific Palisades Lot

SELLERS: Goldie Hawn and Kurt Russell
LOCATION: Pacific Palisades, CA
PRICE: $7,250,000
SIZE: .56 acres

YOUR MAMAS NOTES: Your Mama heard from a little celebrity real estate birdie we'll call Larry Looselips that Goldie Hawn and Kurt Russell have quietly floated a vacant residential parcel in Pacific Palisades, CA on the market with an asking price of $7,250,000.

Truth be told, kittens, we were as flabbergasted as y'all. Your Mama didn't even know they owned a vacant piece of land in Pacific Palisades, a quiet, slightly staid and decidedly upscale coastal community situated between Santa Monica and Malibu. We knew they've lived in Pac Pal since the Ice Age, as does Miz Hawn's famous daughter Kate Hudson, but not a damn thing about this vacant property. Zip. Zilch. Nada.

Forty seven seconds of research in to the property records, however, revealed it was only back in January 2011 when Mister Russell and Miz Hawn acquired the .56 acre spread on the elevated and coveted Palisades Riviera Rim for $5,700,000.

At the time of their purchase, according to old listing information we coaxed up out of the internets, the all-but-pancake-flat property had a musty- and fusty-looking 3,088 square foot residence originally built in the 1950s with 4 bedrooms, 3.5 bathrooms and a backyard swimming pool. While the house was no great shakes, the far end of the backyard drops off to a panoramic eastern view over the rustic (but posh) Mandeville Canyon 'hood, past The Getty, beyond the gleaming towers of Century City and—on a clear day—all the way to the sometimes snow-capped Mt. Baldy.

The existing house was razed, the land graded and a prominent architect hired to design a big new house. Current listing information shows there are active plans and permits in place for a Steve Giannetti-designed mini-compound with 6 bedrooms, 7 bathrooms, an exercise room, separate media room, and eat-in kitchen. Deep verandas designed along the back of the house have long city and sky views unimpeded except by a new swimming pool, spa and adjacent pavilion/studio.

We really don't know if the unmarried pair actually imagined they would occupy the premises or if the purchase and subsequent sale was always planned as a money-making business venture but a few, quick clicks and clacks of the beads on Your  Mama's bejeweled abacus shows the current price is $1,550,000 more than the Russell-Hawns. paid for the place just over 1.5 years ago.

Surely a small fortune was spent on cleaning and preparing the land and we'd bet both our long bodied bitches Linda and Beverly the services of Mister Giannetti probably cost them more then Your Mama earns in two years. Even still, if the real estate gods favor their plight and someone comes along and pays close to the asking price the Hawn-Russells could probably pull down close to a million bucks for the buying and selling efforts. Not bad work if you can get it, right?

Miz Hawn and Mister Russell may not enjoy the white hot Showbiz careers they once did but make no mistake, muffin tops, these two are straight up Tinseltown aristocrats who maintain an extensive (and expensive) property portfolio to prove it. In addition to the on-sale parcel and their current Pac Pal residence, snatched up in August 2004 for $4,124,591, the couple owns an ocean front house on Malibu's Broad Beach they've been trying to sell and/or lease on and off for years. Their beach house in the Bu is currently listed with an asking price of $11,200,000, recently and dramatically reduced from $14,749,000.

The couple also have a sprawling desert compound in a swank, gated enclave in Palm Desert, CA they picked up in July 2003 for $3,615,000; an even larger, multi-residence compound outside Snowmass, CO, some (or all) of which was purchased in the mid-1980s; a Midtown Manhattan penthouse apartment owned since the late 1990s and bought for an undisclosed amount of dough; and a secluded lake front spread north of Toronto, Canada, on Lake Rosseau.

listing photo: Coldwell Banker / Malibu


Anonymous said...

Long in the tooth, short on cash?

Anonymous said...

I find it hard to believe that they bought this property for speculation. IF they sell for full price, and your grading/demo/architect fee estimates are correct, they still have to pay Uncle Sam capital gains. Still a nice profit mind you, but not worth the Russel/Hawns time. Also they have no prior evidence of speculation in the market? I can bet you this was purchased for their use and something has changed..

Anonymous said...

I remember hearing that they bought a new property a number of years ago and planed on building a house, but Goldie and Kurt had a separation around that time. Goldie was in The UK with a guru guy she was sort of dating during that separation time.

Rugby E. Root said...

I'm voting real estate fickle on this one: either they found something else, the house they wanted to build was really more than they could afford or they decided they loved where they live and don't need to move.

Anonymous said...

Rugby....OR they are going splitsville?

Yak said...

It wouldn't shock me if they were splitting but more likely is that since they don't work as often (she hasn't been in a film in a decade), they are merely divesting themselves of parts of their unused and unneeded portfolio. It IS rather bloated for 2 people.

Why would anyone need 3 large homes in the LA area, not to mention their 3 or 4 (or more) other places? They cost a shitload to maintain; maintenance, taxes, staffing, etc. As you age, less is more.

Anonymous said...

Didn't Ms. Yawn, I mean Hawn, recently deed over a house in Beverly Hills to her son Oliver? Sounds to me like they're downsizing and I wouldn't be surprised if they have actually been 'separeted' for quite some time. You know, Goldie Hawn is one actress in Hollywood that has refused to change her hairstyle. She still wears it the same way she wore it 35 years ago. Weird.

Anonymous said...

at one point in time, they also had a place in Vancouver where their son played hockey.

Anonymous said...

Her son was playing SOCCER in Vancouver, not hockey, and Ms. Hawn had a sweet home in Shaughnessy ( Vancouver's equivalent to Bev. Hills, vaguely speaking). Oh, and my hairstyle hasn't changed much in the last 35 years either! I really don't care!