9133 Oriole Way

 9133 Oriole Way
9133 Oriole Way represents an excellent opportunity to enter into the “Bird Streets”, one of the most exclusive neighborhoods in Los Angeles. Since 2010, neighboring homes have traded between $2,500 to over $3000 per square foot. At $32,850,000, 9133 Oriole Way is offered at only $2,576 per square foot ‐ a sharp discount for the highest end product in the Bird Streets. My listing at 9133 Oriole Way, at approximately 12,750 square feet is brand new and has never been lived in. The estate is gated with a rare driveway, a large private underground garage for 8 cars, and has terrific city lights and ocean views. It has a real theater, infinity pool, and a grass lawn ‐ a rarity for the Bird Streets. Built by Dugally Oberfeld, http://www.dugally‐
oberfeld.com/ widely considered to be the best builder in LA, this home exudes excellence.
This particular section of the Bird Streets has a fantastic reputation for quality neighbors with the Walmart heirs sitting in the lot just above. The home two doors down recently traded for $32M for land value alone and Leonardo Dicaprio lives on the other end of Oriole. 9133 Oriole Way is an exceptional value for a brand new contemporary home in a blue chip location. To gain a better perspective on the property please click below to watch a video. https://vimeo.com/123919551
http://la.curbed.com/archives/2014/06/dr_dre_selling_his_bird_streets_house_for_35_million.
php http://la.curbed.com/archives/2013/02/is_walmart_heiress_planning_a_megacompound_on_twothirds_
of_the_bird_streets_crown_land.php
http://variety.com/2013/dirt/real­estalker/your­mama­hears­31­1201235038/ COMPS: 1. 1442 Tanager Way – Sold to Calvin Klein for $25M on 6/24/15 at $2,673 per square foot. http://www.wsj.com/articles/calvin­klein­buys­los­angeles­home­for­25­million­1435104827
2. 1407 Tanager Way – SOLD for $9.8 Million ‐ $2,966 per square foot on 06/20/2012 and has since been torn down. With a lot size of only 12,362 square feet Tanager sold for $9.8M. 9133 Oriole’s lot is almost twice this size at approximately 20,622 square feet allowing a developer to build twice the square footage. Two of my clients have offered $12M for 1407 Tanager Way in its “As Is” present condition. The current builder has confirmed offers of over $15 million. The status of the lot is in beginning framing. Some buyers consider the westerly view towards Century City as a slightly better view than towards downtown but plenty of buyers consider them equally desirable. The property at 9133 Oriole offers both Century City and downtown views. 3. 1435 Tanager Way – SOLD on 05/23/2013 for $2,621 per square foot and only a few doors down from the subject property at 9133 Oriole. This property is now re‐entering the market two years later for $13 Million. 4. 1423 Oriole – SOLD for $38.9M in 2012. 1423 Oriole is approximately 15,000 square feet equaling $2,600 per square foot. This sale illustrates that larger homes in this particular area can command a higher price per square foot. The views at 9133 Oriole are just as good if not better than 1423 Oriole. In addition, 1423 has been completely gutted on the inside because the finishes were not sufficient. 5. 9380 Sierra Mar – SOLD on 05/07/2014 for $19M. $19M equates to $3,166 per square foot for a nice remodel. This further substantiates that $3,000 per square foot is now the going rate for new contemporary “museum” quality builds. www.sierramar.com 6. 9150 Oriole – SOLD for $18.5M in 2012 and is 8,500 square feet ($2,176 per square foot). A significant part of the house is below grade with marginal daylight. These comps are all located on the most coveted crest in the city in which the subject property at 9133 Oriole is also located. 7. 9010 Hopen – SOLD for $8.65 Million in 2011 ($2,260 a square foot) and was only 4000 square feet of living space. The market being substantially better today and the new Tanager architectural trading for over $2,300 per square foot in 2012, (to the Facebook twins) yet again validates the value of 9133 Oriole. www.9010hopen.com 8. 9280 Nightingale – SOLD for $21M (land value) and has the ability to build 16,000 square feet of living space. 9. 9280 Nightingale sold for land value for $21,000,000 and the owner is putting in $30Million to build 16,000 square feet. This could be worth $80 ‐ 100M when done.
10. 9258 & 9262 Nightingale – SOLD for $26M (land value). The buyer purchased both lots to have the option of building a 16,000 square foot home. Like the other property on Nightingale, this owner is also investing $30,000,000 into building his dream home. http://touch.latimes.com/#section/­1/article/p2p­78155768/ 11. 9366 Flicker Way – SOLD for $13,875,000 at $2,300 per sqft on 5/12013. The owner has been offered over $18,000,000 for the lot but they plan to build their dream home and will not sell.
12. 9137 Cordell Drive – SOLD for $8,500,000 in September of 2012. This property was purchased by Francesco Aquilini who plans to build 15,000 sqft home designed by http://www.mccleandesign.com/ and will be marketed at apx $40,000,000.
The above comparable properties are all on the most coveted crests in Los Angeles in which the subject property at 9133 Oriole is also located. Leonardo Dicaprio, The Walmart family, Keanu Reeves, Dr. Dre, Matthew Perry, Toby Maquire, Ted Waitt, David's caliber, Francesco Aquilini and Ashley Tabor, to name a few, all own homes in this premier area. Ben Bacal Rodeo Realty Fine Estates 310­717­5522 benbacal@gmail.com www.benbacal.com Branden Williams & Rayni Williams
Hilton & Hyland 310.691.5935
TheWilliamsEstates.com
Rodeo Realty, Inc. and Ben Bacal do not guarantee the accuracy of square footage, lot size or other information concerning the property provided by this bpo and other information obtained from public records or other sources, figures, return on investment and estimates and proformas mentioned in this bpo report.