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Nestled behind towering hedges in Holmby Hills — the prestigious enclave often grouped with Beverly Hills and Bel Air as Los Angeles’ “Platinum Triangle” — the Owlwood Estate stands as one of the most storied and expansive private compounds in Southern California. Spanning nearly 10 acres across three contiguous lots, this Italian Renaissance Revival mansion has played host to Hollywood royalty, business tycoons, and music legends across nearly nine decades.
Architecture and Design
Built in 1936–1937 and designed by renowned architect Robert D. Farquhar — whose portfolio also includes Beverly Hills High School, the California Club, and contributions to the Pentagon — the mansion was the largest house in Los Angeles at the time of its completion.
The 12,000+ square-foot Tuscan-style residence features grand public spaces preserved from the 1930s: a dramatic foyer, wood-paneled living room, an oval sunroom, a hand-carved fireplace in the dining room, and secret wall panels that once served as silverware cabinets. The estate also includes a full-size elevator, a theatre with four projector slots (originally a Hollywood screening room), a billiards room, and a tunnel leading from the entertainment room to the rear gardens — reportedly built for discreet arrivals and departures.
Outdoors, the grounds feature rolling lawns, mature landscaping, a sunken tennis court, an Olympic-sized swimming pool with a pool house, and a separate ivy-clad guesthouse. The main house and guesthouse together offer nine bedrooms and ten bathrooms.
A Timeline of Legendary Owners
The Letts and Quinn Era (1937–1940s)
The estate’s origins trace back to Arthur Letts, the original developer of Holmby Hills, who personally selected a 3.7-acre parcel at the end of a cul-de-sac bordering the Los Angeles Country Club as the site for his own family home — the only property he excluded from the original development offerings.
Letts died unexpectedly before construction began. His widow, Florence Letts, inherited the land and soon remarried businessman Charles H. Quinn. It was Florence who commissioned Farquhar to design the estate, infusing it with European influences in its finishes and selections. The Quinns became the estate’s first residents.
Joseph Drown and Joe Schenck (1940s–1956)
Joseph Drown, founder of the Hotel Bel-Air, owned the home briefly in the 1940s before selling it to Joe Schenck (1878–1961), the first president of United Artists and chairman of 20th Century Fox. Schenck turned the estate into a Hollywood hub, hosting card parties and private screenings. His most famous guest was Marilyn Monroe, a close friend who visited regularly; rumors of a romance between them have persisted for decades, fueled by the discreet tunnel Schenck allegedly had built for her use.
The Oil Baron: William Keck (1956–1960s)
Schenck sold the estate in 1956 to William Keck of Superior Oil. Keck added an indoor swimming pool and famously installed gold bathroom sink fixtures shaped like oil rigs — a flourish that actor Tony Curtis reportedly disliked and later removed.
Tony Curtis (1960s–Early 1970s)
Legendary actor Tony Curtis purchased the home from Keck for approximately $300,000, viewing the acquisition as a symbol of having “made it” in the industry. He lived there with his second wife, German actress Christine Kauffman, and entertained guests including Gregory Peck, Roman Polanski, and Jean Renoir.
Sonny and Cher (Early 1970s–1976)
In 1967, Sonny and Cher attended a birthday party at the estate, and Cher fell in love with the property immediately. Tony Curtis initially refused to sell, but a few years later — while filming in London — he offered it to the couple for $1 million. After negotiation, Sonny and Cher secured it for $750,000. Cher launched an extensive design renovation, and the results were so striking that Architectural Digest featured the home in its May/June 1974 issue.
The Mishkins and the Birth of “Owlwood” (1976–1978)
In 1976, Cher sold the estate to Chase and Ralph Mishkin, who undertook a complete restoration and, most enduringly, renamed the property “Owlwood” in honor of the owls that lived in its towering trees. They added a breakfast room, exterior jacuzzi, and summer porch before selling just two years later.
Ghazi Aita and Record-Breaking Sales (1978–2002)
Monaco-based investor Ghazi Aita purchased Owlwood in 1978 for $4.2 million — at the time, double the highest price ever paid for a house in California. A year later, he expanded the compound by acquiring the neighboring estate on Sunset Boulevard, once owned by Olympic swimmer and actress Esther Williams. In 2002, Aita sold the combined property to Roland and Dawn Arnall.
The Arnall Expansion (2002–2016)
Roland Arnall, founder of subprime mortgage lender Ameriquest, and his wife Dawn transformed Owlwood into a true mega-compound. They purchased and demolished the adjacent Pink Palace — once owned by actress and Playboy Playmate Jayne Mansfield — and merged the land with the original estate, creating a 10-acre flat property that remains the largest parcel in Holmby Hills by roughly five acres.
The Woodbridge Era and Ponzi Scheme Fallout (2016–2020)
In September 2016, the estate sold for $90 million in an off-market deal to Sturmer Pippin Investments, an LLC tied to real estate developer Bob Shapiro and his Woodbridge Group of Companies. The sale ranked as the third-highest residential sale in Los Angeles history at the time and the highest off-market private sale of 2016.
Shapiro relisted Owlwood in 2017 for a staggering $180 million, later reducing it to $115 million. But in December 2017, the SEC filed suit against Woodbridge and Shapiro, alleging the companies operated as a $1.3 billion Ponzi scheme. Shapiro was eventually sentenced to 25 years in prison, and the estate became entangled in Woodbridge’s bankruptcy proceedings.
The Calch Urban Sale (2021)
In late 2020, as part of the bankruptcy settlement, Owlwood sold in another off-market transaction for $88 million to Calch Urban Investments, an Illinois-based LLC. The deal closed just before Christmas and ranked as Los Angeles County’s third-priciest residential transaction of 2020 — behind only Jeff Bezos’ $165 million purchase and Jeffrey Katzenberg’s $125 million sale, both in Beverly Hills.
Legacy
From its origins as the grand vision of a Holmby Hills pioneer to its role as a playground for Marilyn Monroe, a design showcase for Cher, and a symbol of excess in both Hollywood and high finance, the Owlwood Estate embodies the mythic scale of Los Angeles real estate. With its 10 flat acres, historic architecture, and a location just down the street from the Playboy Mansion, it remains one of the most significant — and sought-after — residential compounds on the West Coast, awaiting its next chapter.
