The Real Deal reports that the 9,700 sq ft estate will be renovated and sold in the next 9-12 months
By Dolores Quintana
Sean Kia, co-founder and principal of Tides Equities, an equity company that has been steadily purchasing multifamily homes in the southwest and southeast regions of the country has bought a new home in Brentwood as reported by The Real Deal.com. In total, the company has bought $6.5 million worth of houses in the sunbelt states.
The estate was purchased by a trust that has been linked to Kia and cost $14.5 million. It is located at 414 South Cliffwood Avenue. It has 9,700 square feet of space and six bedrooms and 10 baths. That price works out to about $1,496 per square foot and the home sits on about a half acre of land. Kia issued a statement on March 1 that confirmed that he bought the house and stated that it was an investment. The Real Deal quotes Kia, who said, “Going to renovate it and sell it in the next nine to 12 months. Not as many multifamily deals to be had right now, so doing a single-family deal.”
Ari Emmanuel’s ex-wife Sarah Addington sold the house to Kia. Emmanuel is well known as the talent agent and co-CEO of Endeavor Talent Holdings and WME and a model for the character of talent agent Ari Gold on the Entourage television show. Addington received the house as part of the divorce settlement. She put it up for sale in August 2021 for $26 million. The home initially didn’t sell and the price was reduced between times when it was taken off the market and was last listed at $18.5 million. The home was remodeled by Windsor Smith and was originally built in 1987. Only a few details about the home are available, it has 6,900 square feet of space in the main house and another 2,800 in a guest house on the property. Engel & Volkers agents Siv Cotton and Landon Clements were the listing agents and Laurent Mamann Slater of The Beverly Hills Estates was the representative of the buyer.
