Longtime Palisades Home of Michael Milken's Son Listed for Sale at $64 Million
A sprawling Los Angeles estate owned by Gregory Milken for 14 years in the exclusive Riviera pocket of Pacific Palisades is up for sale. Approximately $50 million more than he paid when he bought the property in early 2009, the asking price stands at $64 million. The grand property has since been completely rebuilt and re-landscaped, and Milken has spent countless hours doing so.
He is probably best known to the public as the oldest son of the famous 1980s financier and billionaire "junk bond king" Michael Milken, an individual who has also made a name for himself in the financial arena as well as being the youngest Milken in the family.
His role as co-founder and managing partner at March Capital, which focuses primarily on the gaming industry, includes leading the firm’s investments in the esports organization Immortals Gaming Club, Genvid Technologies, Nifty Games, Comunix, Drop Fake and frictionless gaming developer Knock Knock. Besides serving on the Milken Institute, he also serves as a member of the Milken Family Foundation's board of directors.
In 2005, Michael Milken and his wife EJ purchased a gated compound from Cleatskins founders Richard and Marianne Kay for $14.5 million. The property, which sits on over an acre of land, is renowned for its stunning views that overlook the west side.
It is noted by Rich Report that the main house, built in the Cape Cod style, has six bedrooms and ten bathrooms, while the detached guesthouse adds two additional bedrooms and four bathrooms, making the total living area of the property 16,000 square feet. From nearly every angle of the compound, you will be able to view the city lights, mountains, and ocean. This compound is LEED-certified and offers an incredible view of the city lights, mountains, and ocean.
There are two study areas and playrooms in the 13,000-square-foot main house, along with a plush movie theater and game room that open to the backyard. A spacious family room connects to a gourmet kitchen with top-notch stainless appliances and an eat-in island. In addition, the master retreat features a coffered ceiling, a separate lounge area, a walk-in closet, and a hardwood-clad bath equipped with a windowed tub, all under a high coffered ceiling.
There is an 800 square-foot gym on the lower level of the 3,000-square-foot guesthouse, as well as a bath with a Japanese spa soaking tub. A spacious grassy lawn surrounds a fenced backyard with a pool and spa flanked by a firepit. In addition to the four-car garage, the property has an oversized motorcourt.
If the staggering price seems shocking, take a look at a similar lavish mansion that recently sold for $83 million to a 26-year-old entrepreneur just a few blocks away from where the new mansion is located.