Sunday, August 14, 2016

Japanese Garden Sale Closes

Blog readers will recall the long saga of the attempt by UCLA to sell the Hannah Carter Japanese Garden in Bel Air, the resulting litigation, and finally a sale for $12+ million with a deal with the buyer to preserve the garden. Our most recent post for those who don't recall is at:
In any case, a note in the LA Times confirms that the sale has now been completed:

$12.51 million — Bel-Air
The Regents of the University of California sold an estate on about 2 acres in the 600 block of Siena Way to a California-based limited liability company.
The longtime home of late businessman Edward W. Carter, who for decades served as president of the suburban department store chain Broadway Stores, the property had been listed for sale at $14 million, records show.
Built in the late 1930s, the estate centers on a traditional-style home with five bedrooms and seven bathrooms in about 7,300 square feet of living space. A two-bedroom guesthouse, a swimming pool, an outdoor pavilion, gardens and mature landscaping fill the hedged grounds.
Carter passed away in 1996 at 84; the property was deeded over to the Regents of the University of California, for which Carter was a former chair, in 2011.
Joyce Essex Harvey and Danny Harvey of Coldwell Banker held the listing. Jonathan Seltzer of Teles Properties repped the buyer.
Note that the LA Times' story misses the fact that UCLA is to provide $500,000 as an endowment to maintain the garden. Still unknown is whether there will be any public access to the garden. For a long time, UCLA maintained limited public access, although it ended when the attempt to sell began. (Regent Emerita Velma Montoya spotted the article.)

No comments: