Wall Street rockstar Kelly Coffey took the reins as chief executive of L.A.-based City National Bank earlier this year, leaving both her longtime Big Apple home and an epic, 25-year career with JPMorgan Chase behind. Though she’s publicly said she never intended to become a banker, Coffey — who holds a graduate degree in foreign service from Georgetown — led JPMorgan’s U.S. wealth management unit through a period of voracious growth, for which she’s become legendary and one of her arena’s most high-profile executives.
As City National Bank’s CEO, Coffey now presides over a $49-billion-in-assets outfit that has long been dubbed Hollywood’s “bank to the stars,” a tribute to its discretion and longstanding relationships with numerous big-name entertainers. In 1963, when Frank Sinatra’s son was kidnapped, City National Bank put up the $240,000 demanded as ransom. Today, the company is — by far — the most popular financial institution choice for celebrities seeking mortgage loans on their sexy, occasionally overpriced mansions.
Speaking of houses, a major job relocation naturally begets a new home. And for her first Tinseltown residence, Coffey isn’t pulling any punches — she’s cannonballed right into the major-league real estate sandbox, playing with the big boys (and girls) on one of Brentwood’s most prestigious hillside streets. She’s selected a sleek, daringly louche residence that in some respects looks more akin to a snazzy contemporary art museum than a typical house. It sits right up the road from the primary residences of monetary heavy-hitters like LeBron James, Petra Ecclestone and Lakers owner Jesse Buss.
And naturally, Coffey’s still quite the numbers whiz. America’s 13th-most powerful woman in finance drove a hard bargain, paying “just” $9.5 million for her new digs via trust. While that’s still quite a pile of money, the spec-built mansion had been first listed for sale way back in May 2018, with an initial pricetag of $17 million. After more than a year, multiple pricechops and a change of realtors, the deal was finally done for barely half of the tumescent original ask.
Completely invisible from the street out front, the house sits behind a long gated driveway that slopes down, down, down to a motorcourt and three-car garage at the far rear of the boxy structure. Exceedingly long and narrow, the 10,000 sq. ft., multi-level structure was built by local developer Phillip Braunstein and features walls of glass pocket doors, grandly-scaled living spaces and an array of sleek, chic finishes.
There’s a Calacatta marble-slathered kitchen with designer appliances, a formal dining room with ocean and city lights views, an indoor gym with sauna, and a deluxe home theater. The spacious wine cellar has a tasting area and is glass-enclosed and temperature-controlled, while the upstairs master sports a fireplace, private patio and five-star bathroom feauturing multiple vanities, a soaking tub with flatscreen TV, and a massive shower with a unique and vaguely psychedelic pattern marble wall.
The Coffey estate is wholeheartedly devoted to entertaining; as such, it offers 5,000 square feet of outdoor living spaces including — but hardly limited to — a sprawling swath of grassy lawn, covered loggias for al fresco dining, a negative-edge swimming pool with inset spa and Baja shelf, a black marble outdoor wet bar, BBQ station, a retro sunken conversation pit with fire feature, and endless terraces trimmed in rich-looking hardwood. But the real selling point here are the spectacular views, which dance over the Westside and out to the Pacific Ocean and — on a clear day — Catalina Island.
And in addition to her new $9.5 million L.A. residential showplace, Coffey additionally maintains some decidedly luxe digs over in NYC. In this case, a three-unit combination co-op spread at a particularly illustrious, historic high-rise building in Lincoln Square, on Manhattan’s Upper West Side. The bonafide Wall Street baroness appears to have acquired her three units in two separate transactions, records reveal, in 2007 and 2011 for a total of about $13.6 million.