Inside the Record Breaking $20.3M Little Holmby Sale

The property

Built in 1937 on a 0.98 acre corner lot south of Sunset Boulevard, steps from Holmby Park, 10301 Strathmore Drive was taken down to the studs and rebuilt by architect Richard Manion and builder Richard Holz. The result is a gated English Country estate with seven bedroom suites, two Chesney’s marble fireplaces, a botanical garden with three fountains, a saltwater pool and an outdoor dining pergola for more than 45 guests.

The challenge

Little Holmby is a small residential pocket between Westwood and Holmby Hills where estates rarely change hands. No home there had sold for as much, so the pricing could not lean on a neighborhood comparable at this level. The relevant buyer was comparing the house not only with its neighbors, but with estates in Holmby Hills, Bel Air and Beverly Hills.

What the numbers show

• Speed. The home sold about 64 days after it was listed, a single listing period with one asking price on record.
• Price discipline. The final price landed at roughly 92 percent of the $21,995,000 asking price, while still setting the neighborhood record.
• Value per foot. At about $1,975 per interior square foot, the sale priced the rebuild and the corner acre as a finished, turnkey alternative to new construction.

The strategy, in Yasmine’s words

[YASMINE’S ACCOUNT OF POSITIONING, BUYER TARGETING AND NEGOTIATION REQUIRED]

What it means for sellers

A record is set by positioning a home against the right set of buyers and alternatives, not only against the street. If your property is unusual for its neighborhood, or has no obvious comparable, that is exactly when strategy matters most. See how I approach selling or request a confidential valuation.

What it means for buyers

Records are usually set by homes that are rare. Finding the next one often happens before it is public. Request private access.