Beverly Hills · Malibu


Beverly Hills · Malibu

Hollywood Scion Asks $125 Million for L.A. Mansion

Sports executive Casey Wasserman is selling a home on more than 3 acres of land that includes a parcel once owned by Frank Sinatra. If it sells for its asking price, it would break the record for an L.A. home.

Entertainment and sports executive Casey Wasserman, grandson of the late Hollywood mega-agent Lew Wasserman, is putting his newly completed home on the market for $125 million.

If the home sells for that price, it will become the most expensive home ever traded in the Los Angeles area.

According to public records, the home is built on a site that comprises the former properties of three Hollywood heavyweights. The first two were his grandparents Lew Wasserman, who transformed a talent agency into a movie studio and then into the first vertically integrated entertainment giant, and Edie Wasserman, a prominent philanthropist. Lew Wasserman died in 2002; Edie Wasserman died in 2011.

The Wassermans lived in a midcentury home on the property for about half a century, and entertained prominent guests including Bill Clinton, according to Mr. Wasserman’s spokeswoman and photos taken at the property.

The third property belonged to next-door neighbor Frank Sinatra. Mr. Wasserman purchased Mr. Sinatra’s property in 2004 for $6.5 million, Mr. Wasserman’s spokeswoman said. After his grandparents died, he razed their home to make way for a new megamansion.

The resulting house, known as the Foothill Estate, was constructed in 2016. The house sits on more than 3 acres, and spans about 18,548 square feet, according to Mr. Wasserman’s listing agent, Stephen Shapiro of Westside Estate Agency. The lower level houses the staff quarters as well as a 1,148-square-foot gym, a screening room and an art studio. The top level has five bedrooms, including a master suite with a deck.

The grounds include an entertainment deck with an 85-foot infinity pool, a pool house and an outdoor dining area. The property was designed to be eco-friendly with a geothermal system for heating and cooling and a generator for outages. There is also a four-car garage as well as motor court parking for about 25 cars.

Mr. Shapiro said his client is selling because he’s been busy traveling as part of his role heading Los Angeles 2028, the city’s Olympic committee.

The record price paid for a Los Angeles area property is $110 million, records show. That record was set earlier this year by the sale of Hard Rock Cafe founder Peter Morton’s Malibu mansion.

Click here to read the full article on wsj.com.

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