MTV Founder John Sykes Buys 1970s-Era Santa Monica Home for $8 Million – Rob Report
Anthony Barcelo; Toni Ann Parson/Getty Images for iHeartMedia
Are you looking for a real estate bounce? Check out this fun and funky—but still very luxurious and expensive—home on Los Angeles’ west side. The property is located in the middle of what has long been considered one of Santa Monica’s finest streets, and features panoramic views that extend from the mountains to the sea. Neighbors include Paul Attanasio, The Simpsons Creator Matt Groening and Steve Jobs’ sister Mona Simpson.
The well-located home sold for $7.9 million to John Sykes, a veteran entertainment industry executive who co-founded MTV and was president of iHeartMedia’s entertainment enterprises for more than a decade. Sykes, 68, is also the former president of VH1 and the current president of the Rock and Roll Hall of Fame Foundation.
The quaint, traditional-style house was built in 1941 and expanded in the late 1940s, and was sold in 1972 for just $150,000. These lucky buyers held onto the property for 50 years, selling it last fall for exactly $9 million to a not-so-famous Los Angeles family. But unfortunately for them, it seems that family has changed their mind – nine months later, the house is back on the market, asking $9.5 million. After a significant price reduction, Sykes came and negotiated an even greater discount.
Inside are five bedrooms and five bathrooms in just under 4,000 square feet. And almost every inch of those square feet is a 1970s time capsule, with an abundance of wood paneling, gorgeous wet bars, charming vintage wallpaper and a smattering of pastel colors setting the tone. Dozens of oversized windows spread throughout the home flood the space with natural light, while sliding glass doors allow ocean breezes to escape in and out.
Speaking of the exterior, the backyard definitely dates from a bygone era but is well maintained – just like the house itself. The spacious half-acre lot includes grassy lawns, mature palm trees, a towering fence wall for privacy, and a large pool surrounded by a courtyard that is sure to please sunbathers and entertainers alike. There are also rose gardens, blooming bouquets of bougainvillea, and an attached two-car garage.
According to the listing, “the property is eager to be restored to all its glory or reimagined as a lot,” so it seems likely that the property will be significantly transformed in the coming months and years.
There’s no word yet on what exactly Sykes and his wife, Lori, plan to do with their new West Coast outpost, or whether they plan to eventually make it their primary residence, but records reveal that the couple has long owned a compound located less than 50 miles away. yard. From the beach in New York’s posh East Hampton neighborhood.
Click here for more photos of John Sykes’ new home in Santa Monica.