Shonda Rhimes bought LA mansion for $8.8m, restored it and sold for $21m
Television producer Shonda Rhimes sold her historic Hancock Park mansion for $21 million, significantly higher than the $8.8 million she paid in 2014. The property underwent an extensive restoration to return it to its original Italianate villa aesthetic.
Why it matters
The sale sets a record for the Wilshire neighborhood and illustrates the high-end real estate market's appreciation for restored historic architecture.
There are houses that make a statement, and then there are houses that quietly become part of Los Angeles history. In Hancock Park, one such residence has now added another chapter to its century-old story. Once owned by television producer Shonda Rhimes, the sprawling estate changed hands for $21 million, setting a new record for the Wilshire neighbourhood and marking a remarkable rise from the $8.8 million Rhimes paid for it in 2014, states the Los Angeles Times report.A landmark home gets a new lease of lifeThe LA Times report mentions that the estate began its life in 1923, designed by celebrated architect Elmer Grey, whose portfolio also includes the Beverly Hills Hotel and the Huntington Art Gallery.
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