Monument House Sold to Rick Caruso,

The house at 1020 Monument, located across from Palisades Village, was sold to Rick Caruso.

Tyra Banks Buys on Swarthmore, Near Bluffs

According to the L.A. Times, supermodel Tyra Banks has bought another house in Pacific Palisades. The home is on Swarthmore, near the bluffs,  and is a fixer with 1,610 feet of living space, four bedrooms and two bathrooms. The 1949 traditional was listed at $2,849,000, but Banks paid $3,062,500.

This is not her first Palisades home. She bought  a four-bedroom, 3,700-sq.-ft. residence on Galloway Street in 2014 for $3.2 million. She put the home on the market in May 2018 for $4.25 million and it sold for $4 million in September.

 In 2016, Banks paid $7.3 million for an ocean- view mansion along the Via bluffs, which she purchased from former Xerox executive Bernard Kinsey. She sold the home in early 2018 for $8.9 million.

She also purchased a nearly 6,200-sq.-ft., five-bedroom home built in 2014 for $6.99 million. The multi-story contemporary is located on Whitefield Avenue.

Banks is hardly the only person purchasing multiple homes in the Palisades. Mall developer Rick Caruso purchased a three-story home on Las Casas for his third son, Justin, in April 2018 for $4,475,00. The 5,171 sq.-ft. residence has six bedrooms and 7.5 baths on a 7,696 sq.-ft. lot. The deal was handled by realtor Nicole Howard, a former Chamber of Commerce president.

In May this year, Caruso purchased a three-bedroom, two-bath, 1,409-sq.-ft. 1949 home at 1020 Monument. The house, which sits on a 6,496-sq.-ft. lot, is located directly across from the green space at Palisades Village and The Draycott.

According to Zillow, which took the information from public records, the property was sold on May 23 for $2,724,899.

The former owners plan to purchase another home in Pacific Palisades but specified it will not be near Palisades Village.

Several Alphabet Street neighbors are concerned that Caruso is trying to buy homes directly across from his mall, in hopes of one day turning them into multi-family units. Caruso’s public spokesperson was contacted but did not comment by post time.

 Caruso and his wife live in Brentwood Park on a multi-acre property that includes an 11,000-sq.-ft main house, a guest house, an oval shaped pool, a large fish pond, a tennis court and a sports court.

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