Hair Care Moguls ID'd as Buyers of $37M Hollywood Hills Pad

The mystery buyers of a 16,000-square-foot Hollywood Hills estate last month have been revealed as Dean and Darcy Christal, founders of Olaplex.

The Santa Barbara-based couple whose hair care products are popular with celebrities such as Kim Kardashian, Jennifer Lopez and Gwyneth Paltrow, paid $37.4 million for the five-bedroom, nine-bathroom mansion at 1301 Collingwood Place, Dirt.com reported.

The sale, first reported last week by The Real Deal, was 40 percent less than the initial asking price of $62 million in 2020. The home was last listed at $48 million.

The seller was Kipp Nelson, a partner at private equity firm Long Arc Capital, who acquired the hilltop property in 2014 for $7.5 million. The Idaho-based financier spent the next four years building the trophy home.

The gray tri-level house was designed by Olson Kundig of Seattle, which also drew up plans to remodel the luxe condo building at 8899 Beverly Boulevard in West Hollywood.

The mansion, encircled by olive trees on two-thirds of an acre, has retractable walls of glass between concrete walls, a 15-car “auto gallery” and two infinity pools, one overlooking the Downtown L.A. skyline and the other gazing West toward the Pacific Ocean and Catalina Island.

A rooftop terrace has 360-degree views. The auto gallery, which doubles as a lounge, has a Formula One racing simulator.

Brokers Branden and Rayni Williams of The Beverly Hills Estates held the listing, while Jack Harris and Michael Fahimian of The Beverly Hills Estates represented the buyers.

The estate, overlooking the Sunset Strip, is among the pricier recent sales below the Bird Streets, where LVMH Chairman Bernard Arnault owns a home.

In September, a home at 9137 Cordell Avenue once owned by Ronald Reagan sold for $70 million. In 2021, a neighboring home at 1305 Collingwood sold for $21 million.

The Christals founded Olaplex in 2014 from their surfboard-lined garage in Santa Barbara, with hair care products that would become cult favorites of tony hairdressers and celebrities. The firm, which went public in 2021, was initially valued at $15 billion. Its stock price has since plunged more than 80 percent.Eight years ago, the husband-and-wife team bought Bruce Wasserstein’s 12-acre estate in Hope Ranch inSanta Barbara for $14 million. They flipped properties in Bel-Air in the early 2000s, including a house later owned by Elon Musk.

— Dana Bartholomew