Billionaire Ron Burkle targets record $29 million for Bob Hope’s Toluca Lake estate
Four years after buying Bob Hope’s longtime Toluca Lake estate and restoring it to its former glory, billionaire businessman Ron Burkle is buying it for $29 million.
That’s nearly double the $15 million it paid in 2018. The extensive renovation allowed Burkle to update living spaces with high-end fixtures and finishes, while preserving classic elements of the house. residence, including Hope’s Oak Library and a one-hole golf course the late comedian designed for himself.
If it gets its price, it will be the most expensive sale in Toluca Lake history, according to the Multiple Listing Service.
The trophy house is one of many that Burkle has owned over the years. He sold Frank Lloyd Wright’s iconic Ennis House for $18 million in 2019, and his current real estate portfolio includes Bob Hope’s futuristic Palm Springs retreat and Michael Jackson’s Neverland Ranch.
Hope’s Toluca Lake home was built in 1939 by Robert Finkelhor and updated two decades later by John Elgin Woolf, the Hollywood Regency-style architect who designed bold, opulent homes for other celebrities such as Cary Grant, Errol Flynn and Judy Garland.
Hope used the house to entertain high-profile guests such as Bing Crosby and Frank Sinatra, and the estate still showcases Old Hollywood flair today with approximately 15,000 square feet of chic spaces marked by wood, stone, and marble. glass.
Between the main house, the staff house and the apartment above the garage, the 5-acre complex has eight bedrooms and 17 bathrooms. Other highlights include six fireplaces, a marble kitchen, a bar, and a billiard room lined with memorabilia.
The amenities continue outside, where patios and lawns lead to a tennis court and saltwater swimming pool. An additional structure adds a commercial kitchen, conference room, security office and fireproof safe.
Burkle built his fortune by buying and selling supermarket chains, and he currently owns the SoHo House chain and co-owner of the Pittsburgh Penguins hockey team. Forbes puts his net worth at $2.2 billion.
The Agency’s Kevin Dees owns the list.