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Megan Ellison Lands Buyer for Beverly Hills Flip (EXCLUSIVE)

SELLER: Megan Ellison
LOCATION: Beverly Hills, CA
PRICE: $14,995,000
SIZE: 5,603 square feet 5 bedrooms, 8 bathrooms

YOUR MAMA’S NOTES: Software heiress turned powerhouse movie producer Megan Ellison has landed a buyer for a fixer-upper Beverly Hills estate she scooped up in April for $13.5 million from Hollywood royal Lynne Wasserman, daughter of late movie industry pioneer Lew Wasserman, and within two months flipped back on the market with few if any upgrades but a none-the-less notably increased price tag of $14.995 million. The not-quite $1.5 million price jump doesn’t seem to have been too much of an issue as online listings indicate the just north of Sunset Boulevard estate is currently in escrow to be sold to an unknown buyer at an unknown price.

If this property gossip were the wagering type — and we’re not — we’d say it’s probably a pretty good bet the existing residence, described in marketing materials as “a sprawling one story Mid-Century Hawaiian Ranch style home built in 1955,” will be radically altered or even completely razed to make way for something far more grandiose and probably unnervingly gigantic. Online listings show the multi-winged existing residence measures in at a spacious but hardly huge 5,603 square feet with five bedrooms and eight bathrooms while the all but pancake flat, .88-acre property incorporate a semi-circular drive, large motor court, mature trees and landscaping, and a swimming pool.

So the unconfirmed scuttlebutt went at the time she acquired the property, the Annapurna Pictures founder planned to do a quickie renovation to the property and live there while she overhauled her multi-residence compound in the expensive if largely unheralded Mouth Olympus neighborhood that she pieced together in several transactions between late 2013 and the spring of 2015 at a combined cost of about $35 million. Ellison, a remarkably prolific and searingly successful producer whose past projects have garnered several Oscar nods and whose upcoming films include a star-studded satire called “Downsizing” and an as-yet untitled drama written and directed by Paul Thomas Anderson and starring Daniel Day-Lewis, additionally keeps an idiosyncratic one-bedroom pied-a-terre in an illustrious Beaux-Arts-style building in lower Manhattan that features a circular living room with domed ceiling that she picked up over the summer of 2013 for $2.9 million.

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