UPDATED, Wednesday, October 18, 2017, 8:30 a.m.: The Rising family is seeking a buyer for a property — and its not on its development turf in Downtown Los Angeles.
Nelson Rising, chairman and CEO of Rising Realty Partners, is listing his 8,100-square-foot family home in La Cañada Flintridge for $8.5 million, The Real Deal has learned. This will be the first time the home hits the market in over 32 years.
The 1924-built Georgian Colonial Estate in the northeast section of L.A. County has six bedrooms, eleven bathrooms, a formal dining room that can fit 22 people, a library, a wine cellar and a media room. A 930-square-foot guest house, a swimming pool with a 200-square-foot pool house, a large patio, avtennis court and a vegetable garden lie within the two-acre gated compound.
Janice McGlashan of Coldwell Banker Global Luxury has the listing.
Rising Realty, led by Nelson and his son, Chris, have had a major hand in shaping Downtown’s development. Most recently, their company paired with Tom Barrack’s Colony NorthStar to purchase One California Plaza for a whopping $460 million. The firm famously renovated the PacMutual building before leasing it up and selling it for a hefty profit.
Nelson Rising, who was a developer of the U.S. Bank Tower, formerly chaired the Federal Reserve Bank of San Francisco.