Ellen DeGeneres Flips Again, Listing Side-by-Side LA Condos
DeGeneres, a known real estate flipper, reportedly paid about that when she bought the units last summer after selling her then-primary abode -– the Brody House -- to Napster co-founder Sean Parker, according to the Los Angeles Times.
Is your head spinning yet? Let's break down the current play, which in my book, amounts to real estate churning rather than earning. And if you're not earning big bucks on flipping deals, like, what's the point?
The larger of the two 12th-floor condos for sale is 4,158 square feet with two bedrooms and three baths and unobstructed city and golf course views from downtown Los Angeles to the ocean. Asking: $8.495 million.
The smaller unit is 3,813 square feet with two bedrooms and three baths overlooking the Los Angeles Country Club golf course. Asking: $7.495 million.
The condos are in the Beverly West, the closest building to Beverly Hills along the exclusive Wilshire Corridor between Westwood and BH. The building has de rigueur luxuries like 24-hour valet service, but throws in a Pilates room and saltwater swimming pool for good measure.
The Times says the condos were just a way station for DeGeneres and wife Portia de Rossi, who are preparing to move back to a house they previously owned in Hollywood Hills West and off-loaded in 2007 for $10 million.
Kurt Rappaport reportedly is the Beverly Hills-Malibu agent shepherding DeGeneres and de Rossi through these property purchases.