A Los Angeles estate owned by the late record-label executive Jerry Moss has sold for $28.95 million.
The buyers are Stuart Liner, an attorney and real-estate developer, and his wife, designer Stephanie Liner, property records show. They declined to comment.
Located in Bel-Air, the property comprises two lots totaling roughly 1.8 acres, records show. After hitting the market together in 2023, each lot was offered separately this year. One lot, with 0.87 acres and a 1930s house, was first listed for $26.985 million and most recently priced at $22.75 million, according to Zillow. A neighboring, 0.94-acre lot was asking $17.985 million.
Moss purchased the smaller lot with the house for an unknown amount in the 1980s and bought the neighboring property for $3.05 million in 1994. The estate was his primary home.
The Liners have bought, renovated and sold more than a dozen homes in the Los Angeles area since the 1990s, Stuart previously told The Wall Street Journal. In 2015, they sold a newly-built mansion in Holmby Hills for $30 million.
In addition to the main house, the estate has two guesthouses for a total of approximately 11,664 square feet of living space, according to the listing. The main house has six bedrooms, a formal library and a theater. The manicured grounds have a pool surrounded by large stones, making it look like a pond.
Despite the discounted price, the deal was still one of the most expensive home sales in Bel-Air this year, according to Aaron Kirman of Christie’s International Real Estate Southern California, who had the listing for the 0.94-acre lot.
The luxury market in Los Angeles is recovering from the impact of a new mansion tax that went into effect in 2023. In Bel-Air and nearby Holmby Hills, the number of single-family home sales rose 47.1% in the third quarter from the same period of last year, after a 51.4% year-over-year drop during the third quarter of 2023. The median sale price for the third quarter of 2024 dropped 9% year-over-year.
Jerry Moss founded A&M Records with Herb Alpert in the 1960s. In 2000, the pair sold Rondor Music, an independent music-publishing company, to Universal Music Group for about $400 million. After Moss’s death in 2023, his family listed the Bel-Air estate, as well as a property in Hawaii. The Maui compound, which was listed for $39 million, sold for $18 million in September, records show.
Drew Fenton of Carolwood Estates represented the buyer of the Bel-Air estate. He and colleague Linda May had the listing for the parcel last priced at $22.75 million. Fenton and May declined to comment.
