A sprawling mansion sitting at the heart of Los Angeles’ star-studded Pacific Palisades enclave just sold for an eye-popping $12.9 million—less than four months after much of the neighborhood went up in flames.
The sleek four-bedroom, four-bathroom, 4,100-square-foot home at 724 Greentree Road found a buyer during the week of April 7 after spending a little over a month on Realtor.com®.
A look at satellite images from the area shows that the homeowners were among the lucky few spared by January’s deadly wildfires that consumed much of Pacific Palisades and Altadena, CA.
The area of Rustic Canyon immediately surrounding the newly sold residence was left virtually untouched by the disaster. Images show row after neat row of upscale homes, some with swimming pools and tennis courts, nestled among trees and lush vegetation.
Meanwhile, less than a mile to the west, just across West Sunset Boulevard, the rest of the neighborhood has been reduced to a post-apocalyptic debris field.
(Google Maps)
Rustic Canyon “hacienda” with sleek lines and plenty of light
Billed as a “modern hacienda,” the airy, light-filled spread in the Rustic Canyon area was built in 2019 and was untouched by the destructive fires. It comes with all the trappings of an ultraluxury lifestyle, from a heated in-ground pool to a home theater and a fireplace.
It is a “home where light moves like a living thing, where architecture dissolves into nature, and where history meets innovation,” according to the property listing’s breathless description.
Designed by acclaimed architect Noah Walker, the home has been featured in Architectural Digest France, The Local Project, and Denizen Magazine.
The floor plan unfolds in four wings: a primary suite, a children’s wing, a guest suite with a theater, and a service wing with a garage. At the center, a glass-enclosed living and kitchen space “acts as a light box, capturing the shifting glow of the sun throughout the day,” the listing states.
(Realtor.com)
The 15-foot-high kitchen ceiling is bathed in natural light and looks out to a grove of melaleuca trees. The primary suite features a floating ceiling and a skylight that offers a peek at the branches of a coastal live oak.
“More than a residence, this is a living experience a seamless dialogue between light, texture, and time, set within one of LA’s most storied and verdant enclaves,” concludes the description.
The Greentree Road mansion was among 19 homes that sold in Los Angeles County for $4 million or more during the week of April 7-13, according to the Eklund Weekly Luxury Report Los Angeles. It spent less than half the average time on the market and sold for more than double the average price across those 19 properties.
(Realtor.com)
The Pacific Palisades hacienda sitting on 0.29 acres first hit the market in October 2024, with an asking price of $15.25 million—only to be relisted two weeks after the outbreak of the catastrophic wildfires with a new listing price of $14.50 million, down more than 5% from the original.
The property was briefly pulled off the market in early March, before being relisted with the further reduced price of $12.99 million.
L.A.’s recovery is slow months after wildfires
The January wildfires, whipped up by hurricane-force Santa Ana winds, raced through a bone-dry Los Angeles County, killing at least 30 people and destroying 16,000 homes and other structures.
In a report initially published in February and updated in early March, UCLA’s Anderson School of Management estimated the total property and capital damage from the Palisades and Eaton fires at between $76 billion and $131 billion, with insured losses potentially reaching $45 billion.
More than 100 days after the infernos ignited, 19 rebuilding permits have been issued in Pacific Palisades, but only one was issued in Altadena, LAist recently reported.
In the Palisades, 181 permit applications seeking to rebuild or repair properties have been received. In Altadena, 38 applications have been submitted, of which 30 have been returned with a request to make corrections.
The U.S. Army Corps of Engineers and private crews have been busy clearing mountains of debris across the hardest-hit areas.
Brig. Gen. Bill Hannan said that more than 2,300 properties have been fully cleared to date, with about 13,500 plots still covered with debris.
At a news conference last week, California State Insurance Commissioner Ricardo Lara reported that some 38,000 insurance claims have been filed so far, with more than 27,000 being partially paid to the tune of more than $12 billion.
