In today's economy, one of the real luxuries and perhaps the ultimate mark of financial well-being is the ability to buy your next multimillion-dollar home before you sell your first one. Add hedge funder Barry Porter and his Realtor wife, Lea, to this club.
The Porters recently closed escrow for $15.2 million on a 6,900-square-foot Paul Williams-designed traditional estate in Brentwood. They still own a home in the Hollywood Hills, which is listed at $15.9 million. The new Porter abode, built in 1942, has eight bedrooms and eight bathrooms. It sits on almost 3 acres of grounds. There is a long, gated driveway leading to a circular motor court and a three-car garage with chauffeurs' quarters. The home has seven fireplaces, a wine cellar, media room and library. There is a large pool, cabana and pool house.
The home, which had been put on the market at $19,995,000 in January, was owned by two-time Emmy-winning writer and producer Gary David Goldberg. Goldberg, whose signature line was an admonishment to his dog, "Sit Ubu Sit," apparently sat for a 25 percent reduction off his original asking price.
Porter is a co-founder and managing general partner of Clarity Partners, which has raised approximately $20 billion for the companies with which it is associated, according to its Web site.
Porter was a co-founder of Global Crossing, but left before the company's well-publicized meltdown. He is on the board of Public Counsel, the largest pro bono legal organization in the country, as well as the board for Cedars-Sinai Medical Center in Los Angeles.
The property was listed by Emil Alexander of Prudential California Realty, Pacific Palisades. Lea Porter, who works out of the Coldwell Banker Beverly Hills East office, represented herself and her husband in the deal, according to the MLS.
One of the greatest things about living in the world's entertainment capital is sitting in a theater or in front of the tube and recognizing the place next door.
Most likely, you've seen the Studio City home now on the market for $11,495,000 that's owned by Lenard and Tanya Nelson. The Nelsons run the Five Star Film Locations company and this property has had more than its allotted 15 minutes of fame. Ervin "Magic" Johnson was interviewed in the home's library and a full episode of "Leverage," starring Timothy Hutton, was shot there. Jack in the Box commercials, Shirley of Hollywood catalogs you get the idea.
The nine-bedroom, nine-bathroom 9,310-square-foot gated home, built in 2004, sits on a high knoll and overlooks city lights, canyons and mountains. The 2.5-acre property has a complete outdoor entertainment area that includes a second kitchen and professional tennis court.
Florence Mattar and John Mallon, both of the Coldwell Banker Beverly Hills North office, share the listing.
Rhino Man to Move
Let the beat go on, and all that.
The former head of Rhino Records has listed his 10,000-square-foot Brentwood Mediterranean at $19.9 million. Shari and Richard Foos' home, which was completed in 2002, has seven bedrooms and 13 bathrooms. There are seven fireplaces and, lest you expect anything less from the man who used to sell vinyl records from the back of his car, a music system that reaches into every room.
Foos opened his now-famous Rhino record store in 1973. The company went on to become a recording label and was purchased by Time Warner in 1998.
Susan Smith of Hilton & Hyland in Beverly Hills is the listing agent.
Ann Brenoff can be reached at firstname.lastname@example.org.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Investor and Wife Don’t Hedge Bet on New Home
- Digital Media Exec Looks to Connect With Buyer
- Hefty Price Tag Hits Home for Residential Designer
- Music Producer's Digs Can't Be Had for a Song
- Factor Buys Into Malibu Colony for $15.3 Million
- Music Producer’s Digs Can’t Be Had for a Song
- Energy Drink Magnate Swallows Steep Price Cut
- Malibu Home Gets a Price Cut – $10 Million Off