After over five years on and off the market, the longtime Los Angeles home of television writer and producer Norman Lear is finally in contract. The sales price is close to the home’s most recent asking price of $27.995 million—but less than half of its original listing price, according to a person familiar with the deal.
Still, if it closes the sale will be among the most expensive ever done in Brentwood.
The Brentwood home went through several price cuts over the years, and cycled through several different agents. The original $55 million asking price was a very high number for the area, according to a person familiar with the area. A recent renovation of the property may have also made it more appealing.
The buyer is
co-founder and managing partner of Crescent Capital Group, a Los Angeles-based investment firm, the person said. Neither Mr. Chapus nor Mr. Lear was immediately available for comment.
The 8.3-acre estate, which first listed in 2015, includes a roughly 14,000-square-foot, seven-bedroom main house with a screening room with a stage. Mr. Lear’s study had cherry-wood accents to make it resemble a cigar box. “I love a Cuban cigar,” he told The Wall Street Journal of the room in 2016.
Mr. Lear, 98, and his wife, Lyn Davis Lear, bought the home in the late 1980s, soon after they were married. They added amenities to the property over the years, including a guesthouse, a tennis court, a gym and a 28-car garage. There is also a large outdoor swimming pool.
At the time of the deal, the house was listed by Andreas Elsenhans, Josh Altman and Matt Altman of Douglas Elliman. Mark Douglas of the Ernie Carswell & Associates team at Douglas Elliman represented Mr. Chapus.
The Lears previously said they were selling the property because it was too large for just the two of them. They are looking to downsize in the area, according to the person familiar with their plans.
Mr. Lear’s television career included successful shows like “The Jeffersons” and “All in the Family.” Despite his advancing age, he is still active in the business.
Write to Katherine Clarke at [email protected]
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