Behind a rotating bookcase at a 112-acre Los Angeles estate, there is a hidden door and a hallway that once led to a secret casino, according to Nourmand & Associates. The casino is gone, but the entrance remains.
The property is the Robert Taylor Ranch in Brentwood. Architect Robert Byrd designed it in 1950 for petroleum magnate Waite Phillips, per Variety. The actor Robert Taylor and his wife, actress Barbara Stanwyck, later hosted parties there, according to Nourmand & Associates. Taylor owned it until his death in 1969, per Brentwood News.
In the 1970s, it went to concert promoter Ken Roberts, the man who turned KROQ-FM into a rock radio powerhouse. He paid about $900,000, according to Variety. The ranch was also the main setting for the 1983 film The Osterman Weekend, per Patch.
Roberts later tried to sell it. He asked $45 million in 1990, then $35 million, and found no buyer, per Variety. He tried again in 2008 at $65 million.
In 2010, Roberts lost the ranch to a hedge fund, New Stream Capital, to settle a $27.5 million legal claim, according to Variety. New Stream listed it at $28.9 million. By August 2012, the asking price had fallen to $18.9 million.
Then came the auction. Concierge Auctions held it live at the property on Nov. 30, 2012, per Patch. About 760 potential buyers expressed interest, and 12 bidders took part, according to Haute Living.
The ranch sold for $12 million, less than half of the $27.5 million claim. The buyer was a company controlled by Chicago developer Fred Latsko, per Variety.
Latsko listed it at $20 million in May 2014 and pulled it about three months later, according to Variety. It sold again in 2015 for $18.7 million, per Brentwood News.
In July 2025, the estate came back to market at $70 million. The Los Angeles Times called it the largest residential estate to hit the Los Angeles market since at least the 1980s, as quoted by Brentwood News.
Big prices can fall fast on other celebrity properties, too. Michael Jordan listed his Highland Park mansion at $29 million, and a buyer paid $9.5 million in 2024.
Hence then, the article about the robert taylor ranch sold at auction for 12 million in 2012 a hedge fund had taken it two years earlier over a 27 5 million claim was published today ( ) and is available on Parade ( Saudi Arabia ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( The Robert Taylor Ranch sold at auction for $12 million in 2012; a hedge fund had taken it two years earlier over a $27.5 million claim )
Also on site :