{"id":3063,"date":"2023-08-12T20:16:05","date_gmt":"2023-08-12T20:16:05","guid":{"rendered":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/2023\/08\/12\/hiding-in-plain-sight-iconic-venice-beach-compound-announces-itself-on-the-market-for-32m\/"},"modified":"2023-08-12T20:16:05","modified_gmt":"2023-08-12T20:16:05","slug":"hiding-in-plain-sight-iconic-venice-beach-compound-announces-itself-on-the-market-for-32m","status":"publish","type":"post","link":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/2023\/08\/12\/hiding-in-plain-sight-iconic-venice-beach-compound-announces-itself-on-the-market-for-32m\/","title":{"rendered":"Hiding in Plain Sight: Iconic Venice Beach Compound Announces Itself on the Market for $32M"},"content":{"rendered":"

<\/a><\/p>\n

Realtor.com<\/p>\n

<\/p>\n

One of the most remarkable and unique properties<\/a> in Venice, CA<\/a>, is ready for its next owner.<\/p>\n

The live-work space was recently listed for $32 million.<\/p>\n

The provenance of this commercial\/residential place is storied. It was built in 1994 by actress Anjelica Huston<\/strong>\u00a0and her artist\/sculptor husband,\u00a0Robert Graham<\/strong>.<\/p>\n

The owners were able to surpass the 35-foot height zoning restrictions by 20 feet, allowing them to create an artistic compound that soars to 55 feet\u2014unheard of anywhere else in Venice.<\/p>\n

That alone makes it more visible than its neighbors, and the fact that it reaches far back into the block makes it even more notable.<\/p>\n

Highest building in town<\/p>\n

Realtor.com<\/p>\n

\u2018A modern castle\u2019<\/h2>\n

\u201cThis is truly a one-of-a-kind, exceptional property in the heart of Venice,\u201d says agent Jennifer Merritt<\/strong>, of Vista Sotheby\u2019s International Realty, who is co-listing the property with Sotheby\u2019s colleague Kevin Sanderson<\/strong>\u00a0and Travis Forster<\/strong>,\u00a0of Voit Real Estate Services. \u201cIt\u2019s a modern castle, the largest and most coveted property on Venice Beach.\u201d<\/p>\n

It is indeed only steps from the beach, and many rooms in the compound have ocean views.<\/p>\n

Room with ocean views<\/p>\n

Realtor.com<\/p>\n

But again, the size of the property also cements its standout status. It sprawls over five city lots, with 125 feet of street frontage that spans a half-city block in a very densely populated area. If you\u2019ve ever been to downtown Venice, you\u2019re aware that homes and buildings are close together, and properties of this size are\u2026well, there\u2019s just not<\/em> another one.<\/p>\n

Overhead view of the compound<\/p>\n

Realtor.com<\/p>\n

And if you\u2019ve ever been to Venice or even seen pictures of it, you\u2019ve seen this building\u2014although you were probably completely unaware of it. The intersection of Windward Avenue and Pacific Avenue, which features the hanging Venice sign<\/a>, is one of the most photographed vistas in Los Angeles.<\/p>\n

Imagine the value of signage on the building that constantly appears in photographs worldwide. It\u2019s is a proven income source that the building carries with it.<\/p>\n

Merritt reports that the property\u2019s street-facing wall is currently emblazoned with hand-painted advertisements for Patron tequila and Aperol, at street level on Windward, garnering $70,000 per month.<\/p>\n

The street-facing wall features lucrative advertising.<\/p>\n

Realtor.com<\/p>\n

Versatile interior<\/h2>\n

But those are only the virtues of the building\u2019s\u00a0exterior<\/em>. The interior is equally impressive. Originally built with a smaller wing for private living space and a massive wing for gallery space, the structures have morphed into spaces that can be used for residential and business\u2014or just about anything in between.<\/p>\n

Versatile interior space<\/p>\n

Realtor.com<\/p>\n

Renovated in 2023<\/h2>\n

Most of the interior\u2019s 15,460 square feet has soaring ceilings and large windows, placed strategically to maximize the ethereal natural-light effect.<\/p>\n

The most recent renovations, which include all-new and updated mechanical systems and a brand-new Gaggenau kitchen, were completed just a few months ago.<\/p>\n

New kitchen<\/p>\n

Realtor.com<\/p>\n

It\u2019s listed as having four bedrooms and five full baths; but that\u2019s just for starters, as the rooms can be reconfigured any way you like.<\/p>\n

Spacious room configured as a bedroom<\/p>\n

Realtor.com<\/p>\n

And there\u2019s room to build more. Along one side of the lot, there\u2019s space for several three-story townhouses that could be worth upwards of $7 million, according to Merritt.<\/p>\n

In the time since the current owners purchased it almost a decade ago for more than $11,000,000, it has been used as an art gallery, a private family residence, tech firm headquarters, and a special events center.<\/p>\n

The place is coveted for its vast gallery space and proximity to one of the country\u2019s most beloved beaches.<\/p>\n

Versatile office space<\/p>\n

Realtor.com<\/p>\n

Last spring, design icon Dior shut down Winward Avenue for a temporary fashion runway<\/a> and used the building as its staging area. The rental fee for three days? $150,000, Merritt reports.<\/p>\n

Part of the Dior staging area<\/p>\n

Realtor.com<\/p>\n

The current owner, who \u201chas spent most of his life creating success and wealth in real estate holdings, is finally at a point where he\u2019s willing to pass the property along to the next imaginative owner,\u201d Merritt says.<\/p>\n

Representatives of marketing firms, artists and collectors, and entertainment industry executives have already shown interest.<\/p>\n

The post Hiding in Plain Sight: Iconic Venice Beach Compound Announces Itself on the Market for $32M<\/a> appeared first on Real Estate News & Insights | realtor.com\u00ae<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Realtor.com One of the most remarkable and unique properties in Venice, CA, is ready for its next owner. The live-work space was recently listed for $32 million. The provenance of this commercial\/residential place is storied. It was built in 1994 by actress Anjelica Huston\u00a0and her artist\/sculptor husband,\u00a0Robert Graham. The owners were able to surpass the…Read More→<\/a><\/p>\n","protected":false},"author":0,"featured_media":3064,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/posts\/3063","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/comments?post=3063"}],"version-history":[{"count":0,"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/posts\/3063\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/media\/3064"}],"wp:attachment":[{"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/media?parent=3063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/categories?post=3063"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/billingsrealtybrokers.paradiseinnovations.com\/index.php\/wp-json\/wp\/v2\/tags?post=3063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}