Introduction to Pacific Palisades’ Parry Residence
A vintage Pacific Palisades property set this year’s price record for the Los Angeles neighborhood, selling along with a nearby home for a combined $27 million.
Details of the Sale
The Monterey Revival-style home at 14924 Camarosa Drive is the Palisades’ most expensive home this year, after closing for $22.1 million, or $2,635 per square foot. That bests the previous record price set at 814 Toulon Drive, which sold in April for $20 million, or $2,498 per square foot.
The same buyer snapped up a second property, at 14929 La Cumbre Drive, for $5.3 million, or $1,813 per square foot.
Representation and Sellers
Peter Zimble, Shaun Alan-Lee and Nick Segal of Carolwood Estates’ The Advisory team represented the seller. Entities managed by Michael Cohen were the sellers of both properties. Berkshire Hathaway HomeServices California Properties’ Larry Young represented the buyer, which Alan-Lee described as a local owner-user. Young declined to comment.
History of the Parry Residence
The Parry Residence, named after Agnes S. Parry for whom it was commissioned, was built in 1929 by Beverly Hills Women’s Club architects George Elmore Gable and Stanley Wyant. The Camarosa Drive home was the second-ever to be built in the Palisades’ Huntington neighborhood. A year later it landed in the pages of Architectural Digest.
Features of the Property
The property is listed on the National Register of Historic Places and comes in at 7,355 square feet, sitting on a 25,000-square-foot double lot, with seven bedrooms and nine bathrooms. The pool house spans a little over 1,000 square feet. Highlights include coffered ceilings, custom oak cabinetry, a Juliet balcony in the primary suite, screening room and 800-bottle wine cellar. Outdoors are olive trees, gardens, entertainment spaces and a 62-foot pool.
The home’s history helped woo buyers, Alan-Lee said.
“It checked a lot of boxes, and it drew a lot of attention,” said Alan-Lee, who described the tough task of showing clients the property when factoring in the need for passes to enter the Palisades and assistance navigating through the fire-burned areas.
Second Property Sold
One street over and behind the Parry Residence is 14929 La Cumbre Drive, the second property sold. The Mid-Century home counts four bedrooms and three bathrooms. It was also listed in April with an ask of $8.5 million or $2,922 per square foot.
Market Recovery
The closings come as the Palisades real estate market recovers from January’s fire. “Over the past couple of months, we’ve seen an uptick in buyer activity, especially sub-$10 million. So, from lots to actual properties that are still standing, we’ve seen them trade,” Alan-Lee said, adding that much of the activity is in the Huntington and Riviera neighborhoods of the Palisades, which were mostly untouched by the fires.
Market Balance
Meanwhile, the inventory of burned lots are “piling up,” he said, as some residents navigate insurance claims that ultimately lead to decisions to sell. “There’s a lot of inventory on the market ,and it’s still finding its balance in terms of pricing,” Alan-Lee said. “We, as a team, are really happy that we can help restore faith [with this deal] in the local marketplace.”
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Conclusion
The sale of the Parry Residence and the nearby property at 14929 La Cumbre Drive marks a significant milestone in the Pacific Palisades real estate market, demonstrating the area’s resilience and appeal to buyers. The transaction highlights the importance of historical properties and the growing interest in the neighborhood.
FAQs
Q: What is the price record for the Los Angeles neighborhood of Pacific Palisades in 2025?
A: The price record for the Los Angeles neighborhood of Pacific Palisades in 2025 is $27 million, set by the sale of the Parry Residence and a nearby property.
Q: What is the address of the Parry Residence?
A: The address of the Parry Residence is 14924 Camarosa Drive.
Q: How many square feet is the Parry Residence?
A: The Parry Residence is 7,355 square feet.
Q: What is the significance of the Parry Residence?
A: The Parry Residence is a historic property listed on the National Register of Historic Places, built in 1929 by Beverly Hills Women’s Club architects George Elmore Gable and Stanley Wyant.
Q: What is the current state of the Pacific Palisades real estate market?
A: The Pacific Palisades real estate market is recovering from January’s fire, with an uptick in buyer activity, especially in the sub-$10 million range.
