In this month’s edition of Great Spaces, we take a closer look at an ocean-view estate that recently sold for a whopping $10.5 million.
Property Highlights: Location: Manhattan Beach, California Sold For: $10.5 million Features: 5,725-square-foot ocean-view estate with five bedrooms, two office rooms and eight bathrooms. Added Appeal: Limitless entertainment spaces, including a backyard pool and spa, barbecue, fire pit and pool house, as well as an upper-level library and 500-square-foot media room in the basement.
A sprawling estate known for its celebrity pedigree and unrivaled locale in Manhattan Beach’s esteemed Hill District recently sold for $10.5 million. Incorporating elements of traditional Spanish architecture with a bit of French oeuvre, the estate was once dubbed “the Shaq House” due to famous resident Shaquille O’Neal, who rented the home in the early days of his career with the Los Angeles Lakers.
Located at 501 John Street, the home was sold by photographer Annette Lombardi and Danny Zuker, Emmy Award-winning writer and executive producer of “Modern Family.” Undergoing a complete remodel in 2012, the home is as elevated as the hill it stands on—showcasing sweeping views of the ocean from Palos Verdes to Malibu and beyond.
The home exudes contemporary elegance both in its oak and stone flooring and bespoke cabinetry. The primary bedroom presents the perfect haven for relaxation with its stone fireplace, walk-in closet and loft area—complete with a tiled ensuite bathroom with a soaking tub and steam shower.
RISMedia spoke to Kris Lastition of Strand Hill Properties who represented the property. Here, Lastition breaks down the finer elements imbued into the home.
Joey Macari: What makes this a Great Space? Kris Lastition: Situated on a corner lot, this home enjoys abundant natural light streaming in from various angles. The owners were keen on optimizing this feature, so numerous windows were incorporated into the design, infusing the entire space with a bright and airy ambiance. Unlike a conventional square house placed in the middle of a large plot, this home was skillfully constructed in an L shape. At the heart of this configuration lies the backyard pool area, ensuring that light permeates from all directions. Moreover, the home boasts ample storage options thoughtfully integrated by the owners. From cleverly designed nooks and pull-out drawers to discreet cabinets, every corner serves a purpose.
JM: How does this property stand out among the competition in Manhattan Beach? KL: Manhattan Beach is an exceptionally competitive marketplace, and John Street stands out as one of the most prestigious locations within the city. It vies for recognition with the Strand in terms of desirability, despite not being directly on the beachfront. However, what these homes lack in shoreline access, they make up for in privacy and ample space. This particular house falls into the category of what REALTORS® refer to as a “tweener.” It neither boasts new construction nor is it old enough to be considered for demolition, yet it possesses an inherent beauty in its design and thoughtful decor that grants it a timeless quality.
JM: When working with celebrity clients, what best practices should real estate professionals keep in mind? KL: I have had the privilege of working with a select few celebrity clients, and I’ve discovered that each experience is unique, varying based on the individual. In my first encounter with a celebrity client, they preferred to take a hands-off approach and entrusted me with full responsibility for the process. With numerous elements at play, I leveraged my extensive network of subcontractors to ensure that every requirement was efficiently met. When the client relocated, my team and I swiftly took charge, resulting in a prompt sale of the property at an excellent price. When working with celebrity clients, maintaining discretion and understanding the significance of confidentiality is of paramount importance. Boundaries are crucial for all individuals, and given the high-profile nature of celebrities, preserving their privacy becomes an utmost priority.
JM: What is your No. 1 piece of advice for real estate professionals looking to break into this ultra-competitive market? KL: The real estate market is undeniably ultra-competitive, and it’s crucial to begin by understanding yourself and your motivations. It’s important to recognize that establishing rapport and gaining access to their world is not an immediate endeavor. Additionally, you must excel at the specific job they have hired you to do, as mere assumptions that you can quickly find a client and sell their property will not suffice. These discerning clients will not entrust just anyone with their valuable assets.
JM: What innovation stands to be the next big thing to disrupt the real estate industry? KL: I think AI is poised to become the next major breakthrough in technology. Its potential applications are incredibly diverse, and the extent of its impact on our lives is still largely unknown. While AI cannot fully replace face-to-face relationships, there is no denying that it will have a significant influence. The unfolding effects of AI are bound to be fascinating and thought-provoking.