Avid real estate investor Peter Morton has slapped a $15.45 million pricetag on an investment property he owns in Beverly Hills. Tucked away near the uppermost reaches of the exclusive Trousdale Estates neighborhood, the spread is marketed as a “once in a lifetime view property” and includes a coveted — if rather uninspired — residential example of mid-century modern architecture.
Morton, the 71-year-old co-founder of the international Hard Rock hotel/cafe/casino chain, has owned the .46-acre estate for just 11 months and appears to have made few (if any) alterations to the existing house. That, however, has not deterred him from asking nearly $2 million over the $13.5 million paid to acquire the lot. Whether a buyer will meet him near that aggressive ask remains to be seen.
The gated estate was sold to Morton by Japan-based film producer Fuminori Hayashida, its owner of more than two decades. Though virtually unknown stateside, Hayashida nonetheless achieved unsolicited notoriety in summer 2010, when his 21-year-old son Katsutoshi “Tony” Takazato was brutally murdered in the front yard of this property, stabbed to death by an ex-girlfriend and her new lover.
Cold-blooded slaying notwithstanding, the Trousdale area is generally crime-free and near-silent, save for the occasional drone of leaf blowers and the ripped exhaust note of passing Ferraris and McLarens. A regular security patrol further enhances security in this celeb-favored neighborhood, currently home to Ellen DeGeneres, Vera Wang, David Spade, Cindy Crawford, and Jeffrey Katzenberg.
Originally built in 1964, the flat-roofed sprawler boasts a healthy 5,243 sq. ft. of living space. Yet current listing materials do not include a single image of those interiors, a clear signal the property is being heavily marketed as a teardown — or a so-called “development opportunity,” in proper realtor-speak. Far more valuable than the house itself are the stunning jetliner views of downtown LA, Century City and the Pacific Ocean afforded by the hillside location.
What the listing does include are renderings of a potential spec-mansion designed by architectural firm Space International. A similar newly imagined casa could potentially contain 16,000 sq. ft. of living space with walls of glass, a slickly mod kitchen and an infinity pool.
Morton’s main residence remains his longtime 13,000 sq. ft. mansion in prime Holmby Hills. He additionally maintains several other homes, including a $7.2 million abode in Trousdale Estates. From 2012 to 2014, he owned Elvis’s famed Casa Perfect house — also in Trousdale — which was recently purchased by his son Harry Morton for a whopping $25.5 million.
And like all good L.A.-based near-billionaires, Morton long maintained a Malibu vacation home. Located on the perilously pricey shores of Carbon Beach, the contemporary was custom-built for him by “starchitect” Richard Meier. Last April, the oceanfront property was sold to billionaires Michael & Iris Smith for a shocking $110 million, an amount that remains the most ever paid for a single-family residence in Southern California.