Jennifer Garner and Ben Affleck have paid $17,550,000 to buy an 8,798-square-foot mansion on a 3.04-acre knoll in Los Angeles' Pacific Palisades area from mega-producer Brian Grazer.
As we continue to catch up on recent and widely reported celebrity real estate transactions that we haven't yet written about, we knew we couldn't let this one pass. Our friends over at the Real Estalker broke the story on April 9 of Bennifer's purchase of the ranch-style mansion, a little over a month after hinting on March 4 that that was the direction that the couple were proceeding in. Other celebrity real estate gossips followed suit in writing about the couple's purchase, including the Los Angeles Times' Lauren Beale on May 2 and the Wall Street Journal's Christina S.N. Lewis wrote on May 1.
The purchase, which was made through a trust, truly was a joint effort for the two A-listers. Records show that Garner and Affleck's respective historic money managers for their previous real estate transactions -- Howard Altman (Garner's) and Gary Kress (Affleck's) both have their names on the purchase deed, according to public records.
Probably the most controversial aspect of the transaction was Grazer's original $27,500,000 asking price, far above where the deal wound up closing. Even the property's final list price -- $24,500,000 -- still was substantially higher than the sale price.
Built in 1940 and designed by Cliff May, the one-story mansion was owned for a time by actor Gregory Peck, who had bought it in 1947. Features in the five-bedroom mansion, which has been renovated and redesigned by Obama White House decorator Michael S. Smith, include eight baths (including his and hers baths in the master suite), a master suite with a fireplace, a projection room (said in listing information to be the "best projection room in L.A."), an art studio, a dance studio and a gym, according to listing information. Outdoor features on the gated property include a long, tree-lined driveway; a swimming pool; a brand-new, underground two-bedroom guesthouse with a billiard room a craft room and three baths; another building containing an office/gym/art studio and two baths; and a basketball court, according to listing information.
Grazer had owned the property since he bought it in 1992 for below its $3.5 million asking price, according to a Los Angeles Times article from late 1992.
The Real Estalker also reported on April 9 that Garner has sold her longtime, 3,843-square-foot house in Los Angeles' Brentwood area. The sale still has not cleared the public records databases that we have access to. When it does, we'll of course write about it here. Stay tuned.