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L.A. Estate That Housed Record Picasso Put on Market

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May 4 (Bloomberg) -- The Los Angeles estate where movie stars frolicked beneath a Picasso nude that set a world record at auction today is on the market for $24.95 million, according to broker Coldwell Banker Previews International.

The listing of Frances and Sidney Brody’s 11,500 square-foot home in the Holmby Hills neighborhood is the first since it was built in 1949, said Linda May, co-listing broker, in a telephone interview. “Nu au Plateau de Sculpteur,” owned by the couple and displayed for decades in their living room, sold for $106.5 million, the highest price paid for an artwork at auction.

“Holmby Hills is where the sophisticated wealth of L.A. lives,” said May, based in Beverly Hills. The Brodys “turned their home into a salon” and were friends of Joan Crawford, Gary Cooper and the Chandler publishing family, she said.

The five-bedroom house sits on 2.3 acres and was designed by architect A. Quincy Jones in a mid-century modern style. It has 10 bathrooms and four staff bedrooms and interior designs and furnishings by William Haines, a favorite of the Hollywood set, May said.

The Brodys were founding benefactors of the Los Angeles County Museum of Art in 1965. Frances, daughter of Chicago advertising executive Albert Lasker, died in November at 93. Sidney Brody, a real estate investor, was a former chairman of the museum and died in 1983. A trust is selling the property.

A guesthouse, pool and tennis court are located on the grounds. The Playboy Mansion is nearby and Walt Disney was once a neighbor, May said.

Peak Price

The price for the Picasso, painted in 1932, exceeded the $104.2 million paid for the artist’s “Garcon a la Pipe” in 2004 and the $103.4 million fetched by Alberto Giacometti’s “Walking Man I” in February.

A 12-foot Henri Matisse ceramic mural that hung in the Brodys’ entry atrium has been donated to the Los Angeles museum, known as LACMA, May said.

The Brody auction was expected to fetch more than $150 million, according to Christie’s, which calls the collection of works by Picasso, Matisse, Giacometti, Henry Moore and others “one of the most valuable single-owner” groupings ever offered.

To contact the reporter on this story: Dan Levy in San Francisco at dlevy13@bloomberg.net

To contact the editor responsible for this story: Kara Wetzel at kwetzel@bloomberg.net

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