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eveloper Phillip Braunstein and Bond Street Partners' David Parnes recently toured a newly completed $25.9 million property at 1104 Tigertail Road in Brentwood's Crestwood Hills neighborhood. The six-bedroom, 10-bathroom home spans over 14,400 square feet and boasts custom finishes, including millwork, wood paneling, marble, and stone.

    The permitting process took two-and-a-half years, followed by three years of construction to bring the project to life. Braunstein's development company, Colossal Properties, faced lengthy hearings and appeals before breaking ground. The gated property features a herringbone stone motor court, four-car garage, elevator, infinity pool, sauna, theater, gym, wine room, and expansive outdoor deck space.

    A custom artificial intelligence-generated sculpture by digital artist Beeple tops off the property, marking Winkelmann's first residential project and first to utilize AI. The piece is not included in the sale but adds to the home's unique features.

    The market has bounced back from its summer slowdown, with Bond Street experiencing a surge in sales following last week's Federal Reserve interest rate cut. Parnes expects the team to clear around $1 billion in sales this year, up from $285.9 million in the previous May-to-May timeframe.

    Parnes' optimism follows a challenging 2023 for the industry and a settling-in period at Carolwood Estates after joining the brokerage in February. He credits the boutique's sophisticated branding and marketing as aligning with Bond Street's focus on luxury properties in key Los Angeles submarkets.

    As for 2025, Parnes remains upbeat about the luxury market, citing normalcy that has settled into Los Angeles' high-end real estate scene. Despite recent challenges, including the National Association of Realtors settlement and Measure ULA transfer tax, buyers and sellers are returning to the market, driven by a lack of inventory and pent-up demand.