Mr. Radziner built the four-bedroom, four-bathroom home six years ago and has lived in it with his wife and children since then. Known locally as the Vienna Way Residence, the home is renowned for its architectural details, including floor-to-ceiling glazed walls, clerestory windows, and a sunken kitchen that anchors the home, connecting its public and private areas.

The home also has custom-designed furniture, a swimming pool and outdoor living spaces with fireplaces.

Richard Ehrlich of Westside Estate Agency and Solo Scott of Teles Properties represented the buyer, but did not disclose his identity.

Mr. Kitching represented Mr. Radziner in the sale.

Click here to view the full story on The Wall Street Journal.

According to Jane Kellard, the listing agent at Westside Estate Agency in Malibu, the four-bedroom, four-bathroom home with more than 6,000-square-feet has a large living room with 19-foot vaulted ceilings and skylights, six stone and carved wood fireplaces, Italian marble floors with wood inlays, an onyx entryway and mahogany French doors. The master-bedroom suite has a sitting area, office, library, mahogany-beamed ceilings and large windows.

The 2-acre secluded property includes sycamore and pine trees and a two-bedroom, three-bathroom guesthouse that used to be a recording studio when the property’s previous owners, including Don Felder of the Eagles and music producer David Foster, lived there, Ms. Keller says. Tommy Chong, of Cheech & Chong, was the original owner of the property, Ms. Kellard says. The grounds also include a lagoon freshwater pool and a lighted tennis court, which was grandfathered in to the city’s zoning ordinance.

Mr. Nolte originally bought the property in 1991, according to public records and, over the years, has amassed about six acres. Ms. Kellard says he’s selling this property because he’s moving to his adjacent property.

In October 2008, Mr. Nolte escaped a fire at the home, which was started by an electrical overload in the living room, Ms. Kellard says. Reports say the fire caused around $3 million in damage, though Ms. Kellard says no structural damage occurred. Mr. Nolte spent about a year fixing the damage, she adds.

Mr. Nolte has appeared in more than 90 films, including “Warrior,” “The Thin Red Line,” “The Prince of Tides” and “Cape Fear.”

Click here to read the full article.

The goal of this Zen-inspired Modernist house in the Hollywood Hills was to create a tranquil and healthful-living environment filled with natural light. Recycled, biodegradable and organic materials take center stage in the gated, energy-efficient home.

Location: 3110 Deronda Drive, Los Angeles 90068

Asking price: $2.395 million

Year built: 2004

Architect: James Chuda

House size: Four bedrooms, four bathrooms, 4,200 square feet

Lot size: 7,927 square feet

Features: Entry water garden with waterfall; media room; den; two fireplaces; glass staircase; loft; patios; bamboo and papyrus walls; bamboo, cork and palm wood floors; solar power; water-saving toilets; vegetable gardens

About the area: Last year, 321 single-family homes sold in the 90068 ZIP Code at a median price of $890,000, according to DataQuick. That was a 4.3% price increase from 2011.

Agent: Kurt Rappaport, (310) 860-8889, Westside Estate Agency

Click here to read the full article.

For the universal real estate community, these are all indicators of where the real estate market is and where it’s headed. But in Los Angeles, we are not in the universal real estate community. We have a specific marketplace in a world-class, desirable location. It’s relatively easy to provide an outlook as to what our market looks like now, but where it is headed is more of an experienced prediction.

I am encouraged that for the first time in many years, there is definite optimism in our market. In the past 60 days there have been four sales in Malibu alone that have each exceeded $35 million (for $75 million, $41 million, $37.5 million and $36.5 million). This has never happened before, let alone during a sluggish economy.

This is great news, even for buyers who don’t have the means for this type of purchase. It should give everyone a sense of security to know that knowledgeable and well-heeled buyers feel it is safe to make such a massive investment.

Those huge Malibu sales were all second homes. Most significant sales in our overall marketing area involved a pool of sellers whose motivation was financial need, death, downsizing or moving away from the region. The net result is that inventory has shrunk and the seller who doesn’t have a motivation to sell is likely to ask a higher price resulting in greater equity return and thus more cash to buy a more expensive home.

‘Priced right’

The flats of Beverly Hills are very strong with multiple buyers placing offers on homes that are priced right. The same is true for Bel Air, Brentwood, Pacific Palisades and Santa Monica. The key words here are “priced right.” Homes that are aggressively overpriced are either not selling or sitting on the market until the seller agrees to a reduction.

There are far too many examples of homes listed for double their ultimate sales price. Oftentimes, these homes are on the market for one to two years before selling at a price much lower than if they had been correctly priced to begin with. The reason: Overpriced houses get stale with a presumption of fault if they don’t sell in a reasonable period.

When do we officially declare that we have a good market? Understand that when this starts and the pendulum moves in the upward direction – as has already begun to happen – that swing will last for an extended period of time. Historically, these swings last upward of five years in each direction. According to Bloomberg, sales of homes in California over $5 million increased to 697 units last year, up from 491 in 2011. That’s an increase of almost 42 percent. As for homes in the $4 million-$5 million range, 460 units sold in 2012, a 62 percent increase from 2011’s total of 344 units.

Despite this reality, I won’t officially declare this to be a good and growing market until sellers begin to trade up. That means, for example, homeowners selling a $5 million house and buying a $7.5 million house. For the most part, we’re not there yet.

The pendulum has started to swing and the force of that swing will result in a positive effect for the residential real estate market.

Stephen Shapiro is chairman of Westside Estate Agency and has worked in the L.A. real estate market for more than 35 years.

Click here to read the article on the LABusinessJournal.com

The gated country English compound sits on a half-acre knoll. The 6,148-square-foot home features a formal entry hall, a grand staircase, a paneled library, an office, a den, six bedrooms and seven bathrooms. There is a guesthouse and a swimming pool.

Bateman, 44, is known to generations of TV viewers for his roles in “Arrested Development” (2003-present) and the originally titled “Valerie” (1986-91). Anka, 44, has appeared in “Bones” (2008), “Notes from the Underbelly” (2007) and “Beverly Hills, 90210″ (1996).

Borgnine, who died last year at 95, is remembered for his Oscar-winning performance in “Marty” (1955) and his work in the title role as commander of a madcap crew in the sitcom “McHale’s Navy” (1962-65). Until 2011 he was the voice of Mermaidman on “SpongeBob SquarePants.”

The estate came on the market in October for the first time in 60 years priced at $3.395 million.

Billy Rose, Paul Lester and Aileen Comora of the Agency in Beverly Hills were the listing agents. Richard Ehrlich of Westside Estate Agency represented the buyers.

Click here to read the article on www.latimes.com

Late commercial illustrator Miriam Wosk left her mark when she remodeled her personal residence in Santa Monica. The gated Spanish-style compound includes splashes of vibrant colors inside and out, an art studio, a solarium, a guesthouse, gardens and a swimming pool.

Location: 436 Adelaide Drive, Santa Monica 90402

Asking price: $12.5 million

Year built: 1926

House size: Five bedrooms, six bathrooms, 7,801 square feet

Lot size: 21,075 square feet

Features: Entry, living room, den, family room, four fireplaces, breakfast bar, service entrance, canyon views, detached garage.

About the area: In the third quarter last year, 34 single-family homes sold in the 90402 ZIP Code at a median price of $3.25 million, according to DataQuick. That was a 28.7% price increase from the same quarter in 2011.

Agent: Stephen Shapiro, (310) 860-8888, Westside Estate Agency

Click here to read the full article on the latimes.com

A Russian billionaire couple paying all-cash were the buyers, according to people familiar with the deal, though their identities currently remain anonymous.

The seller is Howard Marks, the billionaire money manager behind Oaktree Capital Management, a Los Angeles-based publicly-traded alternative asset management firm. Never publicly listed for sale, the 9.5-acre spread was quietly shopped around with a lofty $125 million price tag. At an estimated $75 million, the sale breaks local records: it represents the highest price ever paid for a residential property in tony Malibu, eclipsing the $68 million sale of Nancy Daly Riordon’s Carbon Beach mansion in 2008.

Encompassing more than 300 feet of ocean frontage, the Pacific Coast Highway estate is one of Malibu’s largest seaside property parcels.  It includes a 20,000-square-foot Mediterranean-style villa with eight bedrooms and 14 bathrooms, two guesthouses, a standalone gym, tennis courts and a swimming pool facing out toward the ocean. Completed in 2008, the estate underwent a seven-year renovation overseen by Michael Smith, the high-profile decorator who renovated the White House Oval Office, according to the Wall Street Journal.

Marks and his wife purchased the property for $31 million in 2002, according to public records, from the estate of late Herbalife founder Mark Hughes. The Marks were represented by Fred Bernstein of Westside Estate Agency in the transaction.

The massive record-breaking deal joins the ranks of America’s most expensive home sales. It is Southern California‘s second-highest sale ever, behind billionaire heiress Petra Ecclestone’s $85 million Spelling Manor purchase in Holmby Hills in 2011. Interestingly, the deal is said to have transpired on January 4, mere days after the U.S. went over the fiscal cliff and capital gains taxes rose for the wealthiest Americans — a dynamic many high-rolling home owners had been scrambling to avoid.

Marks, worth $1.4  billion by Forbes’ estimate, has been reshuffling his real estate portfolio on both coasts over the past year. In May, the investing maven shelled out $52.5 million in cash for two uncombined, side-by-side units in New York City’s ultra exclusive co-op building 740 Park Ave.  Totaling 30 rooms including eight bedrooms, 10 baths, two libraries, and formal and informal dining rooms,  it was the most expensive co-op price ever paid in the U.S. at the time.

The couple have also been looking to unload a 4,536-square foot condo at the Ritz Carlton in Manhattan since July. Boasting eight rooms also designed by Smith and views of Central Park, the apartment’s price tag is a lofty $50 million.

Click here to read the full article on www.forbes.com.

Known as the Singleton House, the home was built by noted architect Richard Neutra in 1959, having been commissioned by industrialist Henry Singleton. It is located up a 300-foot-long gated driveway on a 5-acre knoll that overlooks the city below, from downtown Los Angeles to the Pacific Ocean.

According to the listing, the house has four bedrooms and five bathrooms and opens onto courtyards. The property has a pool, spa and gardens. The stones in the garden were arranged by sculptor Isamu Noguchi. There are walls of glass throughout the home and the master suite has a sitting room, a Japanese soaking tub and a steam room.

The Sassoons bought the home in 2004 for $6 million, according to public records. Mr. Sassoon died last year. The home was listed late last year for $17.99 million. Mr. Pinault owns many retail brands including Gucci as well as Christie’s auction house. A billionaire, Mr. Pinault is also known for owning one of the biggest contemporary art collections in the world.

Kurt Rappaport of Westside Estate Agency represented the seller. Ms. Sassoon did not return a request for comment.

Click here to read the article on the wsj.com

The price is among the highest ever paid in the U.S. for a single-family home and is the most expensive sale on record in Malibu.

The home was being quietly shopped for around $125 million but was never formally listed. The main house spans about 15,000 square feet, with eight bedrooms and 14 bathrooms. There are three satellite structures on the property, including two guesthouses and a gym.

At the end of 2008, Mr. Marks, chairman of Los Angeles-based Oaktree Capital Management, and his wife Nancy completed a seven-year renovation of the property with Michael Smith, the designer who redid the White House Oval Office a few years ago, according to someone familiar with the designer. They also relandscaped the grounds and redid the swimming pool. The Markses also worked closely with Mr. Smith in designing their two apartments in New York.

According to public records, Mr. Marks and his wife bought the home in 2002 for $31 million from the estate of Herbalife founder Mark Hughes, who died in 2000. Fred J. Bernstein of Westside Estate Agency represented the sellers.

Click here to read the article on wsj.com

It wasn’t long before the two began making plans for a different kind of brokerage. An agency committed to putting client service first, and doing the best for each client. In the words of Stephen Shapiro, “Negotiations conducted with intelligence and integrity result in what we call the ’triple win.’ Great results for the buyer, the seller, and WEA.”

Working hand-in-hand with their commitment to tailored service was the agency’s ground-breaking application of communications technology. WEA was the first to employ Blackberries, PCs linked by high-speed networks and the Internet to provide better service and immediate communication with our clients, and our clients’ financial advisors, attorneys, designers, architects, and contractors.

That year they opened Westside Estate Agency with a focus on the most expensive and prestigious homes and estates in the prime Westside areas of Los Angeles. Today, WEA has built a clientele without parallel, at the pinnacle of the business, financial and entertainment industries.

Stephen and Kurt have assembled a team of full-time real estate pros, known for expertise, experience, integrity and discretion. Each agent possesses an in-depth knowledge of the inventory and current market conditions; our clients turn to us for candid insights into current market value, the sales potential of properties and marketing strategies for our current and prospective clients.

Of course, WEA has retained its independence, in the face of widespread acquisition by a handful of impersonal agencies. Remaining independent means we answer to our clients, instead of a corporate headquarters thousands of miles away. It means we don’t need to worry about a conglomerate’s bottom-line; rather, we’re free to focus on getting the best and doing the best for each client.

In practical terms, this translates into efficiency and responsiveness. Making the most of every minute by showing just the homes, in just the neighborhoods, that meet our clients’ criteria. Quite frequently, we’re even able to offer new properties not yet on the market.

Finally, it means WEA’s agents have a direct conduit to the top. Unlike the non-owner operated, robo brokerages, our principals play a role in, and keep an eye on every WEA transaction. In sense, every WEA client is also a client of Stephen’s and Kurt’s. Which only make sense, as it’s with these two that the WEA story began.

Location: 28815 Grayfox St., Malibu 90265

Asking price: $15.9 million

Year built: 1972

Architect: John Lautner

House size: Four bedrooms, three bathrooms, 3,650 square feet

Lot size: 1.09 acres

Features: Heated sandstone floors, walls of glass, stainless-steel appliances, library/study, office, gym, covered patio, outdoor steam room and shower, tennis court, swimming pool

About the area: In the third quarter, 49 single-family homes sold in the 90265 ZIP Code at a median price of $1.833 million, according to DataQuick. That was a 6.9% price increase from the third quarter last year.

Agent: Mark S. Gruskin, Westside Estate Agency in Malibu, (310) 317-8202

Click here to read the full article on the latimes.com.

Click here to view the photo tour on the latimes.com.