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Welcome back to the Real Estate newsletter. For any newcomers, this weekly rundown of stories brings together the best of The Times’ housing coverage: the biggest deals, the coolest homes and the information you need to navigate Southern California’s wild real estate market.
Surprises kept coming this week as the pandemic market drew a new batch of sellers, including a rapper, a DJ and USC. After four decades of Trojan presidents residing in the famed Seeley Mudd estate in San Marino, the school is selling it off as a cost-cutting measure.
Workers in the entertainment industry have a reason to celebrate, as the Actors Fund broke ground on a $120-million affordable housing project that will bring 151 units of affordable housing to Hollywood by 2024.
Hot Property: Liam Payne unloads a compound in the Santa Monica Mountains Jack Flemming © (Tyler Hogan) Spanish in style, the leafy compound sprawls across five acres in the Santa Monica Mountains above Malibu. (Tyler Hogan)
Liam Payne managed to make a profit in Monte Nido barely. The singer-songwriter of One Direction fame sold his leafy Spanish-style compound for $10.161 million, or about $161,000 more than he paid in 2015.
The pop star spent most of his time on the property trying to sell it, originally offering it up for lease before listing it for $14 million in 2018. With no takers, he eventually lowered the tag to $10.75 million over the summer and found a buyer right before the new year.
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