After 14 years of ownership, Gregory Milken is ready to offload his sprawling Los Angeles estate in the exclusive Riviera pocket of Pacific Palisades. The asking price is an eye-popping $64 million — or nearly $50 million over what he paid for the place back in early 2009. But since then, Milken has completely rebuilt and re-landscaped every inch of the grand property. Mansion Global first reported the listing.
Probably best known to the public as the oldest son of famed 1980s financier and billionaire “junk bond king” Michael Milken, the younger Milken has managed to forge a name for himself in the financial arena in his own right. As co-founder and managing partner of March Capital, with a focus on the gaming industry, he’s led the firm’s investments in the esports organization Immortals Gaming Club, Genvid Technologies, Nifty Games, Comunix, Drop Fake and frictionless game developer Knock Knock; he also serves on the boards of the Milken Institute and Milken Family Foundation.
Built in 2005 — and acquired by Milken and wife EJ for $14.5 million from Cleatskins founders Richard and Marianne Kay — the gated compound rests on over an acre of land described in the listing as having “the most incredible views of any home on the west side.” Included is a six-bedroom, 10-bath Cape Cod-style main house, and detached guesthouse with another two bedrooms and four baths — for a total of 16,000 square feet of LEED-certified living space boasting sweeping city lights, mountain and ocean views from almost every vantage point.
Glitzy amenities found in the 13,000-square-foot, three-story main house include dual studies and playrooms, as well as a plush movie theater and game room opening to the backyard. Among the other highlights: a spacious family room, which connects to a gourmet kitchen outfitted with an eat-in island and top-tier stainless appliances, as well as a sumptuous master retreat resting beneath a high coffered ceiling, and displaying a separate lounge area, walk-in closet, and hardwood-clad bath equipped with a windowed soaking tub.
As for the 3,000-suare-foot guesthouse, it comes complete with a bath sporting a Japanese spa soaking tub, plus an 800 square-foot gym on the lower level. Outdoors, the fenced backyard hosts a large grassy lawn, as well as a pool and spa flanked by a cozy fire-pit. There’s also a four-car garage and an oversized motorcourt out front.
And if the breathtaking asking price still sounds outrageous, bear in mind that another wildly opulent mansion just one street away recently sold for $83 million — to a 26-year-old entrepreneur.