Photo Credit: Tyler Hogan
The month of April was anything but what we expected and hoped. Unlike many pending sales that have fallen out of escrow throughout the country, Hilton & Hyland agents represented both sides of the $19.5 million-sale of Lee Iacocca’s longtime Bel-Air home.
Photo Credit: Tyler Hogan
“To have our agents represent both the buyer and the seller for such an esteemed and historic property is sincerely an honor,” said Jeff Hyland, President of Hilton & Hyland.
Lee A. Iacocca, the late automobile luminary who ran the Ford Motor Company and took the Chrysler Corporation out from the verge of bankruptcy passed in July of 2019 due to complications from his bout with Parkinson’s disease.
Photo Credit: Tyler Hogan
In an industry filled with legends and America’s framers, Iacocca was the only executive in modern times to head operations for two of the Big Three automobile companies. Taking into consideration his societal stature, his estate listed by Rick Hilton and David Kramer of Hilton & Hyland was equally opulent.
Photo Credit: Tyler Hogan
Set on more than an acre, the two-story home has a grand foyer with arched ceilings, a wood-paneled den, a great room, five fireplaces and a master retreat. With a total of five bedrooms and eight bathrooms, including an apartment for staff, the Italianate-style residence was fit for fortune.
Originally purchased by Iacocca in 1993 for $4.25 million after stepping down from his position as CEO and chairman of Chrysler, the 10,682 square-foot estate was frequented by notable entertainment elites like Frank Sinatra, Priscilla Presley, Betty White and Bob and Dolores Hope.
Photo Credit: Tyler Hogan
“People still need a place to live, regardless of financial situation,” Kramer said. Kramer and Kevin Anderson, also of Hilton & Hyland, represented the buyer.
