WEA News

Westside mansion that replaced Ron and Nancy Reagan’s former home sells for $22 million

A Westside mansion built on a property once owned by late presidential couple Ronald and Nancy Reagan has sold for $22 million.

The 12,000-square-foot house occupies the two-thirds of an acre site in Pacific Palisades where the Reagans had a ranch-style home built in the 1950s. At the time, Ronald Reagan was the host of “General Electric Theater,” and GE outfitted the home with the latest in home technology at the time: all-electric kitchen appliances.

The Reagans maintained the house as their family residence while Ronald Reagan commuted to Sacramento for his job as state governor. They sold it in 1982, a year after Reagan began his first presidential term.

The new house in its place was built on speculation by Jaman Properties, a development company headed by Hollywood screenwriter Janus Cercone and film producer Michael Manheim.

The home and accompanying guest house sit behind antique gates. Features of note include a 2,000-square-foot master suite with luggage and shoe closets and a temperature-controlled fitness center. In one of the 10 bathrooms, peacock feathers applied by hand by local art students adorn the walls. Michael Jackson’s former Neverland relists for $67 million, down from $100 million Michael Jackson’s former Neverland relists for $67 million, down from $100 million.

The living room retains the original wet bar from the Reagan home. The door of the shower from which he emerged to learn he had won the presidency in 1980 was also preserved.

A saltwater swimming pool and spa, terraces and gardens designed by landscape architect Scott Shrader fill the grounds. Sweeping views from the property take in city lights and ocean.

The property was originally shopped as a pocket listing last year for $33 million before being placed on the Multiple Listing Service. More recently it was publicly listed for $24.995 million, records show.

Kurt Rappaport of Westside Estate Agency was the listing agent.

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