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Thats why it has a copper roof with shingles. And a neglected mansion surrounded by $60 million estates is a very unusual thing. Or $33.5 million less poor, as it were. He built that home as wellfrom stucco, wood, and salvaged materialfor his wife, actress Nan Martin. What happened next? Naturally, we included said rumor in our post. A developer planned to tear it down and build an apartment building on the land, so the city declared the mansion a Historic-Cultural Monument. I was born and raised in Santa Monica and when I was a Senior in High School, I owned a horse that I kept at my friend's house in Malibu. Here they received the blue bloods of the world till their divorce in 1936. This is a gated private community you can only visit if a resident puts your name on the guest list. Despite the lack of maintenance, however, we believe the teardown property is worth at least $12 million in todays hyper real estate market. I Explored An Abandoned $9,000,000 Malibu Beach Mansion 24.5 miles from Malibu, CA. From the lush rural estates of early Angeleno pioneers to the midcentury masterpieces of Hollywood royalty, many architectural treasures have been torn down in the name of commerce, greed, and progress. In 1891, Crocker turned the little-used residence into a high-end boarding house, boasting a large porch and a healthful location. In certain areas, where the ocean waves are just right, surfers can be seen bobbing in the water. Nice neighbours, excellent view (of the Pacific; and they call it that for a reason), and suburb resale value (secure appreciation). It towered over all the other mansions on Santa Monica's Gold Coast. Flowers in profusion," and the "largest coca plumosa drive in Southern California." Valentino died suddenly in 1926 and Falcon Lair later became the home of heiress Doris Duke. You also agree to our Terms of Use and our use of your information as set forth in our Privacy Policy.