In July, 2013, luxe-living (and unfortunately named) RockStar energy drink mogul Russ Goldencloud Weiner (yes, that is his real middle name) shelled out exactly $10 million for a modern, beach front residence in Hermosa, 3001 The Strand.
Now ol' Russell likes to cash in quickly on his real estate purchases, usually with eye-popping mark-ups. For example, he bought a Beverly Hills home just off Sunset Boulevard once owned by Madonna for $19 million in 2015, gave it an extensive make-over and then put it back on the market for $49 million in 2017 (although the home was pulled off the market last October, with the last asking price set at $35 mil).
As for 3001 The Strand, he tried to sell it within a month of purchasing it for $13.9 million, tried again in 2016 at $22.9 million and now is giving it another shot, this time at $21 million.
The Louie Tomaro-designed home features 6 bedrooms and 6200 sqft of living space on a lot with 37 feet of beach frontage on The Strand. The home is right next door to another Tomaro residence owned by super-lawyer John Quinn as his beach home.
Interestingly, the $21 million list price equals the total sale price of the last two Strand sales in Hermosa, both of which sold for $10.5 million - 1932 The Strand, a brand new 4-bedroom coastal modern home, and 3330 The Strand, a down-to-the-studs remodel that had an interesting back story (see our blog post from December entitled Crime and Punishment).
We'll be watching this sale as one data point in how the high-end market is holding up here at the beach.