Like a lot of other high net worth people looking to shed some high priced real estate in a market increasingly bogged down by high interest rates and high inflation, Scooter Braun seems to be chasing the market down.
Three years ago, about one and a half years before he filed for divorce from Yael Cohen, the pop music mover and shaker shelled out $18 million in an off-market deal for the longtime Los Angeles estate of John Travolta and his late wife Kelly Preston. The Brentwood spread was then a bit shabby around the edges and in obvious need of updates and improvements. Primarily known as the manager for top recording artists like Ariana Grande and Justin Bieber and Demi Lovato, the 41-year-old entrepreneur presumably planned to incorporate the estate into what was then his family home next door. However, by late 2021, some months after he filed for divorce, he’d already decided to flip the old Travolta abode back on the market, with few if any obvious improvements but nonetheless a notably profitable asking price of almost $24 million.
With no takers, the ask was chopped in the early weeks of 2022 to a tetch below $22 million and now, with no takers at the lower price, the price has once again been dropped, this time to $19.95 million. So, while he may still make a buck, or even a million bucks, it won’t be the windfall originally sought. Listed with Kurt Rappaport at Westside Estate Agency and Dalton Gomez of Aaron Kirman Group, the almost two-and-a-half-acre spread offers complete privacy, enhanced security (there’s a guard shack just inside the gate!), lots of mature shade trees, and pretty, over-the-treetops city and mountain views.
Billed in marketing material as “one of the premier estate properties on the westside” and “filled with incredible potential”, the still down-on-its-heels hacienda-style home spans about 8,500 square feet over two floors, with a total of six bedrooms and nine and a half bathrooms. One of the second-floor bedrooms offers sweeping views from a private wraparound balcony shielded by a striped awning.
Other highlights include several fireplaces, including one outside, formal living and dining rooms, a media room and a library/study, a lighted tennis court that could use resurfacing, several expanses of patchy lawn bordered by rigidly clipped hedges, and a bougainvillea-draped courtyard dining and lounging area that overlooks a classic kidney-shaped swimming pool. There’s also a sunken trampoline and a huge deck that hangs over the ravine that falls aways at the rear of the estate.
Braun and Cohen finalized their big-dollar divorce last fall. Among other divisions of art, autos and a PJ, Cohen retained their family home in Brentwood while Braun had by then already splashed out $65 million on a brand-new contemporary home in L.A.’s Mandeville Canyon and another $36 million on a lavish Montecito estate that he bought from Ellen DeGeneres.
As for Travolta, he’s also made some big changes to his portfolio in recent years. Besides selling the Brentwood estate to Braun, he sold a waterfront home in Clearwater, Fla., the headquarters of Scientology, and bought a home out in L.A.’s suburban Calabasas. He still owns the family’s unconventional fly-in estate in central Florida, where he can park his planes in the backyard, and the family’s longtime vacation getaway in Maine has been on and off the market for the last few years, most recently at $5 million.