Tyra Banks recently sold yet another investment property in PacPal. The savvy businesswoman knows the territory quite well; in the past few years, she’s bought and sold in Pacific Palisades numerous times, frequently making a tidy profit in her flips. She has a nose for valuation, because the PacPal market isn’t a hot one. And she wisely confines herself to the seven to low-eight digit price range.
In May of this year, she listed a couple of homes in the city. The gem was an ocean-front contemporary she picked up about two years before for $7.4 million. She sold the house in about a months’ time, picking up almost $2 million gross in the process.
The second is this little contemporary, which recently sold for about $4 million against a 2014 purchase price of $3.3 million. It’s a new house, and Banks was the first owner when she picked it up in 2014. There are four beds and five baths throughout its 3,700 square feet of living space.
The house presents the familiar series of contemporary SoCal home fashion cues; a balance of rustic charm and 21st-century contemporary cool, a few midcentury-modern design overtones, matte-finished understatement, marvelous interior/exterior flow, and generic light fixtures.
The home’s emphasis on use of woodgrain for expression is refreshing; plank cladding adorns ceilings and accent/fireplace wall, balancing out the industrial inflections of poured concrete, glass, and plain steel window and door frames. The effect vaguely recalls the 1970’s, when wood and authenticity were considered to exist in direct proportion. But without all the effusion. Or any, really.
The property exterior features eco-friendly synthetic grass, a studio, and a broad patio.
