Oscar-Nominated Producer and Software Heiress Megan Ellison Takes Million Dollar Loss on L.A. Flip

Published: December 3, 2016 | By: American Luxury Staff

Megan Ellison was hoping to make a quick bit of cash flipping a Beverly Hills estate in need of some tender love and care that she purchased for $13.5 million this past April, but that was not the case, and when all was said and done the producer actually lost $1 million in her recent $12.5 million sale of the property.

The 1995-built, 5,603-square-foot Hawaiian Ranch-style house was built on a .88-acre plot. It holds five bedrooms and eight bathrooms.

Ellison, the daughter of software billionaire Larry Ellison, snatched up the home from Lynne Wasserman, the daughter of late Hollywood pioneer Lew Wasserman.

It was rumored that Ellison picked up the property in order to live in while her massive estate in the Mount Olympus neighborhood was finished. She also planned to do a quick renovation on the compound and sought a $14.995 million price on the property.

Ellison has produced acclaimed films such as “Her,” “American Hustle,” “Zero Dark Thirty,” “Joy,” and “Foxcatcher,” just to name a handful of her projects. She also maintains a one-bedroom, one bathroom apartment in Manhattan that she acquired for $2.8 million in 2013.

3424 December 3, 2016 Real Estate December 3, 2016