Andrew Modlin Snags $11 Million Hollywood Hills Mansion
As sales of contemporary L.A. mansions keep on fumbling in the midst of fears of a market oversupply, some sellers have turned to the great ol’ pricechopper in order to perfect a deal. Witness this slick modern day house in the prime Bird Streets, long considered the ultra neighborhood pocket of the Hollywood Hills.
Finished in late 2017, the luxurious house previously sprung available to be purchased in January 2018, sporting a $15.9 million ask. Almost 1.5 years after the fact — and following two robust value cuts and a difference in real estate agents — the property has at long last sold for precisely $11 million, or a throat-clenching 31% discount off the original ask.
The bargain-minded buyer is weed mogul Andrew Modlin, co-founder and president of marijuana juggernaut MedMen. The upscale cannabis maker — it’s regularly been known as the Apple Store of weed — stood out as truly newsworthy when petitioning for an IPO on the Canadian Securities Exchange last May, turning into the biggest traded on an open market US-based cannabis organization. In spite of the fact that the stock has gotten destroyed from that point forward, touching off discussion over future suitability, the firm stays among the most celebrated and effective of its sort. Also, in response to the stock performance, Modlin and CEO Adam Bierman agreed to drastically change their annual salary plans.
Modlin’s Hollywood Hills pick is a corner-lot structure that sits on a smallish (if mostly flat) .19-acre of land. Structured by KAA Design Group, the house includes a two-vehicle carport hidden from sight of the front door, which opens to a blustery patio with a mature olive tree, a cactus garden, and a fire feature. Inside, an unexpectedly extraordinary room features walls of glass, a limestone floor, and cedar plank ceilings. Just beyond is a sleek eat-in kitchen with top-of-the-line impeccable appliances.
Additionally on the first floor is the resort-like master suite, which sports double showroom wardrobes and vanishing dividers of glass opening to the pool/spa combo and connecting porch. As for the semi-underground lower level, it contains an extensive parlor, exercise center, wine storage room, and a media stay with projector. Normally, the whole property is for the most part encompassed by a tall fence for security and ensured with a lavish Savant Pro home computerization framework.
Obviously, the Hollywood Hills are prestigious for their big name occupants, and Modlin’s new cushion sits directly nearby to the home of Rodney Dangerfield’s widow Joan. Likewise in the quick neighborhood are Leo DiCaprio, Keanu Reeves, and no less than three diverse Walmart beneficiaries.
Also, notwithstanding his chic new Birds home, Modlin proceeds to possess his L.A. “starter” home, a $3.9 million contemporary estate situated in close-by West Hollywood.
Kurt Rappaport of Westside Estate Agency and Michael Druker of The Agency together held the posting. The Agency’s Lindsay Guttman repped Modlin.