Rustic Lane home sells after three price cuts
By Dolores Quintana
The property at 14180 Rustic Lane in the Pacific Palisades has finally sold as reported by The Real Deal.com. The property was on the market from July of 2022 and was listed at $37.5 million with the sale finally closing at $24.5 million on January 5, 2023. The price of the home, which has a wine cellar that was converted from a bomb shelter, was cut three times in an effort to sell it.
The seller Rita DeLeone was represented by Tracy Tutor of Douglas Elliman and Santiago Arana of The Agency. De Leone bought the home in 2021 from a mystery seller according to Mansion Global and documents related to the sale. The final price was $2,450 per square foot.
Strangely, the home has more than one address, in addition to the former bomb shelter on the property. The other address is 14180 West Sunset Boulevard and the property has the name Valley Farm. The Wall Street Journal related the story of the bomb shelter from the Cold War era that was converted by the owners into a “wine cave” that can store 1,000 bottles.
The new owner’s identity is not yet known either, as it was purchased by an LLC called Birdsong Central LLC. The buyer was repped by Coldwell Banker Realty agent Barbara Adler and eXp Realty agent Holly Messer. The real estate broker’s listing does inventory the property’s features like the 11 bathrooms, guest house, bocce ball court, a grove of olive trees, fruit orchards and pool and is located nearby the Riviera Country Club.
