Just fifteen months after they scooped it up in a clandestine, off-market deal for $7.7 million, Michelle Pfeiffer and David E. Kelley have flipped a superbly sited teardown residence along a sought after street in Pacific Palisades, Calif., back up for sale at $8.35 million.
Listed with Cindy Ambuehl at Compass and marketed at land value, the just over one-third acre parcel has 125-feet of street frontage and offers sensational views over leafy Santa Monica Canyon and, on a clear day, across the Pacific Ocean to Catalina Island. And, while it hardly matters because it will certainly be razed to make way for something far larger and more conspicuously impressive, the existing residence, an unassuming hip-roofed ranch house that dates to the early 1950s, measures in at close to 2,900 square feet with four bedrooms and three bathrooms. The partly decked backyard has dead stretch of lawn and an empty, forlorn-looking swimming pool.
The Tinseltown power couple, she a three-time Oscar nominated movie star and he an eleven-time Emmy winning primetime drama powerhouse, also own a neighboring home set on almost half an acre with a very similar, cross-canyon ocean view that they scooped up a bit more than three years ago for not quite $8.2 million.
No strangers to rarefied residential circumstances or property gossip columns, the couple previously owned side-by-side properties on one of the most discreetly elite streets in L.A.’s Brentwood area. The larger estate was sold in 2005 for almost $18.5 million to prodigiously compensated Disney chief Bob Iger and for the last fifteen years they’ve maintained a downright aristocratic spread in the rustic, low-key and spectacularly wealthy Northern California community of Woodside, about 35 miles south of San Francisco. Purchased for a total of $20.6 million in two transactions several years apart, the first in 2004 and the second in 2008, the nearly nine-acre equestrian estate was briefly for sale in early 2018 at $29.5 million. They’re also rumored to be the owners of a secluded, 340-acre compound at the scenic mouth of the Bute inlet in a remote corner of Canada’s British Columbia that came up for sale in 2017 at $28.8 million and remains available at that price.