Brad Pitt sells his LA home for $ 39 million, saves $2.1 million in taxes

Earlier this month, Oscar-winning actor Brad Pitt sold his Hollywood Hills estate for $39 million days before a mansion tax was implemented. The actor completed the transaction ahead of the April 1 introduction of a 5.5 percent tax on all Los Angeles real estate sales over $10 million, saving him nearly $2.1 million in taxes. The house was built in 1915 and is located near the border of Hollywood Hills and Los Feliz. Pitt sold the property in an off-market transaction.

He purchased the property in 1994 for $1.7 million and has since made considerable improvements. Several reports suggest he purchased four adjacent properties between 1998 and 2009 and constructed a tennis court, skating rink, swimming pool and koi pond. The property presently covers about two acres.

The previous owner of the property was Cassandra Peterson who is best known for playing the horror icon Elvira, Mistress of the Dark. In an interview with Fox News, she’s alleged that the house was haunted and had informed the actor of the same. The actor on the other hand had taken the insight well, finding the possibility of the house being haunted rather amusing. Before his bitter divorce from Angelina Jolie in 2016, the couple resided here with their kids.

Before the mansion tax was implemented, the rich and famous of Los Angeles were scrambling to sell their properties. Officials hope that the levy on expensive homes will aid in the fight against homelessness. Brad Pitt’s deal has been touted as one of the most expensive neighbourhood sales in recent years. The record was achieved last year when Michael Rubin a businessman paid $70 million for a property that had once belonged to Ronald Reagan.

According to TMZ website, Pitt will be shifting to Carmel, along the Californian coast from Monterey where he purchased a clifftop house for $40 million last year. The Charles Sumner Greene-designed DL James residence which was constructed around 1918 was given that name in honour of its first owner, writer and entrepreneur Daniel Lewis James.

Next (Uttar Pradesh RERA to act against 41 developers for not attending a review meeting)

Brad Pitt sells his LA home for $ 39 million, saves $2.1 million in taxes

This Month

Overview

Explore

Join Us