Palisades Estate With Private Bomb Shelter Sells For $24 Million
During the Cold War years in the 1950s and early 1960s, a large number of Americans built bomb shelters in their own yards as a means of protecting themselves.
From simple holes in the ground to elaborate multi-chamber dwellings with sleeping quarters and enough storage space to store food and supplies for months, the shelters ranged in size from rudimentary holes in the ground to elaborate multi-chamber dwellings.
On the estate's 1.12 acres of grounds, located well away from the main house, were the original owners of this genteel Pacific Palisades estate. The original owners built a remarkably spacious bomb shelter into a rock formation on the grounds of the estate. More than 60 years after the Cold War ended, the shelter remains standing, and the Cold War is now a distant memory.
Aside from the fact that the main house was practically demolished in 2012, almost everything else about the property has changed since then. In 2016, Marc Appleton, an acclaimed architect, rebuilt the home and expanded it under his guidance, which was completed in 2016. Over the past two years alone, the property has sold twice - both times for much over $20 million.
In summer 2021, a Texas-based woman named Rita Deleone acquired the elegant spread for $25.5 million, after buying the estate in summer 2021. A few months after doing some renovation work, Deleone installed a new swimming pool and motorcourt, and put the place back on the market with a lofty price tag of $37.5 million.
Despite multiple price cuts over the years, the estate was eventually sold for $24.5 million this year at a heavily discounted price, a loss of $1 million for the seller before renovation costs, realtor commissions and maintenance expenses are taken into account.
Among the new owners are married philanthropists Gaurav and Sharon Srivastava. He is the chairman of the global food trading giant Harvest Commodities and the chairman of Unity Resources Group, a security consultancy firm.
According to Rich Report, there are hardwood floors, multiple stone fireplaces, vaulted ceilings with exposed wood beams, and hardwood floors in the rustic-chic main house, which is described as a luxe farmhouse, as described by the listing.
There's also a chef's kitchen, a massive great room, a media room, and a massive master suite that's enshrined in its own private wing with two marble bathrooms on offer.
In addition to the main house and the pool house, there are two additional structures on the property such as a two-story pool house featuring two guest suites and a full kitchen as well as an old traditional guest house that now serves as a gym, complete with a sauna and a massage room.
In addition, the estate's grounds are spectacularly lush, complete with fruit orchards, a vegetable garden, a bocce ball court, batting cage and even a pond. Gated and refined, the estate sits at the end of a private cul-de-sac, well removed from the hustle and bustle of Los Angeles.
While the bomb shelter remains intact, it has been transformed into a standalone wine storage facility, which has space for hundreds of bottles, several tasting tables, a TV and comfy plaid chairs, as well as space for hundreds of bottles.
While bomb threats have diminished in the last few years, one could still say the shelter is still a great place to get bombed, even though they are no longer quite as common.