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Billionaire Ron Burkle chases record $29 million for Bob Hope’s Toluca Lake estate

Four years after buying Bob Hope’s historic estate in Lake Toluca and restoring it to its former glory, billionaire businessman Ron Burkle bought it for about $29 million.

This is almost double the $15 million he paid for it in 2018. The extensive renovation has seen Burkle modernize the living space with furnishings and finishes. upscale while preserving classic elements of the mansion – including Hope’s oak library and a one-hole golf course. self-designed comedian.

If he gets the price, it will be the most expensive purchase in Toluca Lake’s history, according to the Multiple Listing Service.

The home trophy is one of many that Burkle has owned over the years. He sold Frank Lloyd Wright’s iconic Ennis Home for $18 million in 2019, and his current real estate portfolio includes Bob Hope’s future Palm Springs resort and Neverland’s Ranch Michael Jackson.

Hope’s Toluca Lake House was built in 1939 by Robert Finkelhor and updated two decades later by John Elgin Woolf, the Hollywood Regency architect who designed bold and chic homes for other celebrities such as Cary Grant, Errol Flynn and Judy Garland.

Hope used the house to host celebrity guests like Bing Crosby and Frank Sinatra, and the property remains Old Hollywood style to this day with about 15,000 square feet of posh space marked with wood and stone. and glasses.

Located between the main house, the staff house and the apartment above the garage, the 5-acre property has eight bedrooms and 17 bathrooms. Other highlights include six fireplaces, a marble kitchen, bar and billiards room stocked with memorabilia.

Amenities continue outside, where patios and lawns lead to tennis courts and a saltwater pool. An additional structure adds a commercial kitchen, conference room, security office and fireproof safe.

Burkle has built his fortune buying and selling supermarket chains, and he’s currently the owner of the SoHo House chain and part owner of the Pittsburgh Penguins hockey team. Forbes estimates his net worth at $2.2 billion.

Kevin Dees of the Agency holds the list.

https://www.latimes.com/business/real-estate/story/2022-05-17/billionaire-ron-burkle-chases-record-29-million-for-bob-hopes-toluca-lake-estate Billionaire Ron Burkle chases record $29 million for Bob Hope’s Toluca Lake estate

Edmund DeMarche

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