$60 Million West Hollywood Penthouse Goes Up For Auction

By on May 22, 2021 in ArticlesEntertainment

Evan Metropoulos and his family specialize in saving iconic companies and making them profitable again. Now, he's looking for someone to bail him out of a very expenisve West Hollywood penthouse… that he's been trying to sell for three years.

Evan bought the unfinished 7,000 square foot unit with sweeping 360-degree views of Los Angeles in 2015 for $31 million. He never moved in or finished renovations. Now he's even giving up on finding a buyer in the traditional way. Instead, he's putting it up for auction with no reserve price.

He first listed the unit for sale in 2018 for $58 million. Over the past three years he's lowered the price several times. The most recent asking price was $33.5 million.

The penthouse sits at the very top of West Hollywood's Sierra Towers, one of the tallest buildings in the area. The building has been home to Cher, Elton John, and Courteney Cox over the years.

Metropoulous' 33rd floor unit is made up of two units he bought for $31 million in 2012 and 2015. The space has walls of glass, 15-foot ceilings, and a wraparound terrace with an additional 4,000 square feet of living space. It features views of the city, mountains, ocean, and valleys.

Metropoulos is selling the home because he's more focused on the Danny Thomas estate in Beverly Hills that he bought for $65 million in 2017. That property is an 18,000 square foot villa on 2.5 acres, with seven bedrooms, 10 bathrooms, and panoramic views.  He also owns an 11,000 square foot home with a private lagoon, six bedrooms, and eight bathrooms in Key Biscayne, Florida that he bought in 2015 for $47 million.

C. Dean Metropoulos, the 74-year-old family patriarch has made his $2.1 billion fortune buying and resurrecting iconic brands Hostess, Vlasic Pickles, Utz snacks, Chef Boyardee, and Pabst beer. His sons, 40-year-old Evan and 37-year-old Daren are making names for themselves by buying super expensive and also iconic properties, including the Playboy Mansion.

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