Sandra Bullock Takes Loss on Sale of Two Sierra Towers Condos

Seller-Sandra Bullock

Location-Sierra Towers, Los Angeles, Calif.

Price-$8 million (total)

Year-1965

Architect-Jack A. Charney

Specs-Two separate units totaling 3,773 square feet

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It rarely happens to her, but this time Sandra Bullock has suffered a real estate bruising. Over the years, the beloved actress has carved out a reputation as one of Hollywood’s savviest property investors, and today she owns a massive portfolio of both commercial and residential properties, coast-to-coast, that altogether are worth nearly $100 million.

Bullock recently decided to free up some portfolio space by selling her two condos in exclusive Sierra Towers, the 31-story, Sunset Strip-adjacent residential skyscraper that was built in the 1960s and has become famous — or notorious, if you prefer — for its many current and former celebrity residents. Records show that both units have now been sold to two different buyers for the combined total of $8 million; while that’s a great deal of money, it’s also a chunk less than the $8.7 million Bullock paid for the two spots in two separate transactions, one in 2014 and the other in 2017.

One of the condos, a 2,100-square-foot space on the 20th floor, was sold off-market for $3.6 million to “Joker” director Todd Phillips, who also recently purchased the adjoining unit from a different seller.

Unfortunately for Bullock, records show she paid $5.1 million for the place in 2017, meaning the “Miss Congeniality” star swallowed a hefty $1.5 million loss. Because it was never publicly marketed for sale, there aren’t any pictures of this unit online, but tax records show it’s currently configured with just one bedroom.

Bullock fared better on her other unit, a two-bedroom spread on the building’s 22nd floor. She bought that place for about $3.6 million in 2014 and sold it, a few days after unloading her other condo downstairs, for $4.4 million to an obviously wealthy but non-famous woman. Seen in photos below, this spread was once owned by “Friends” star Matthew Perry and has been stylishly renovated with bespoke cabinetry, top-grade appliances and floor-to-ceiling glass sliders.

Over the decades, Sierra Towers has cultivated a reputation as L.A.’s “strangest, sexiest” condo building. Current and former residents include everyone from Elton John, Cher and David Geffen to Lindsay Lohan, Kelly Osbourne and Adam Sandler. Building amenities include 24/7 concierge, valet parking, fitness center, sauna and a swimming pool.

And despite her Sierra Towers departure, Bullock still owns multiple other Los Angeles homes, including a $2.7 million residence in the mountains above Beverly Hills and two oceanfront houses in the same guard-gated Malibu community. But the crown jewel of her collection remains a $20 million estate in the 90210’s Benedict Canyon neighborhood. She’s also got lavish vacation properties in New York City, New Orleans, Austin and Jackson Hole, Wyoming.

Joshua Greer of Hilton & Hyland and Alan Long of Avenue 8 held the listing on the 22nd floor unit; Laurent Bijaouiof Compass and Westley Williams of Harcourts Prime Properties repped the buyer.

Ref: Sandra Bullock Takes Loss on Sale of Two Sierra Towers Condos (dirt)