Brad Pitt makes HUGE PROFIT after selling his exclusive LA compound he shared with Angelina Jolie
LOS ANGELES, CALIFORNIA: After nearly three decades of owning and renovating his Los Feliz, California home, Brad Pitt is formally saying goodbye to his luxury abode. According to TMZ, the actor, 59, just sold it for a whopping $39M.
The price hike is a significant increase from the $1.7M he paid to purchase the house from horror legend Elvira back in 1994. It's unknown what caused the property's price to drop from its initial $45M listing in January.
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Selling off a place he called home
An oil baron constructed the craftsman-style home in California around 1910. It sure has a lot of history! In addition to it being Brad’s home for a long time, Jimi Hendrix also penned "May This Be Love" there. Throughout the years, Brad actively participated in the planning, design, and construction of both new and renovated structures of the house. Prior to their 2016 divorce, Pitt famously shared the house with his ex-wife Angelina Jolie and their six children, but he also lived there on his own for a long time.
The ‘Fight Club’ star is rumored to be relocating from Los Angeles to a $40 million home in the sleepy Northern California seaside town of Carmel. It comes shortly before the new 'mansion tax' in Los Angeles, which is set to take effect on April 1 and is said to be the cause of the recent increase of A-listers leaving the wealthy city.
As per the ULA tax, the City of Los Angeles will impose a 4% transfer tax on those selling off homes valued at more than $5 million. Sales over $10 million will be subject to a 5.5% tax. The funds will be used for public housing in an effort to address Los Angeles' escalating homelessness problem. The city has a $1 billion objective, according to Yahoo!
A little about Brad's luxury abode
The 'Babylon' actor's grand Hollywood Hills mansion is tucked away in a gated neighborhood and has a lengthy 110-year history. With the help of an elite group of architects and designers, Brad has spent years restoring the home and adding new features. He made a number of nearby lot purchases to increase the land.
The 6,700-square-foot main home on the site has five bedrooms and five bathrooms. The house is built in the craftsman style of California and features brick chimneys and gray roofs. There is a path that connects the front floor directly to the driveway, which is made of cobblestones.
The best seclusion is provided by an abundance of trees and other lush landscaping. On the right of the property, there are two swimming pools with jacuzzis and a sizable Koi pond. Moreover, there are at least four guest homes, a movie theater, and a garage for Brad's collection of motorcycles.
In other interesting news, Ines de Ramon, a 29-year-old model from Los Angeles who divorced her husband Paul Wesley last year, is reported to be going out with Brad. It has been observed that the couple started dating in November, and in recent months, they have been frequently seen out on dates.