Before philanthropist and real estate developer Eli Broad and his wife Edythe opened the Broad Museum in downtown Los Angeles in 2015, the couple housed their Broad Art Foundation in a 1927 brick building in Santa Monica about a block from the beach. Early works in their collection included works by artists such as Barbara Kruger, Christopher Wool, Jeff Koons, Ed Ruscha, Cy Twombly, and Glenn Ligon, and the space became a must-visit for collectors and curators on visits to Los Angeles.
But after the museum opened, the Broads sold the building to a public company in 2015, according to the Wall Street Journal, connected to the family of designer Diane von Furstenberg. The sale price eight years ago: $16.5 million.
Now the building known for its connection to the art world has a new owner who hails from the music world: Scooter Braun.
The entrepreneur and talent manager bought the building – near Santa Monica and Venice – for $25.9 million. The four-story, approximately 24,000-square-foot structure offers ocean views and includes a skate ramp and rooftop deck with lounging areas and landscaping.
Braun — the CEO of Hybe America (which acquired Atlanta hip-hop label Quality Control in February this year) — paid $65 million for a newly built home in Brentwood in September 2021, setting a record for the LA neighborhood.
The deal for the Broad Art Foundation building was brokered by both parties Drew Meiers And Kurt Rapport from Westside Brokerage.