- An 11,483-square-foot Encino, California, mansion once owned by late rockstar Tom Petty is on the market for $4.995 million.
- Petty’s ex-wife was given the home in their 1996 divorce, and she unsuccessfully tried to sell it in 2013.
- In 2015, J.P. Morgan foreclosed on the property, then sold it for $2.575 million in 2017. The home was refurbished, then sold for just under $5 million to its current owner Randy Spendlove, the president of Motion Picture Music at Paramount Pictures.
- The Los Angeles Daily News reports that Spendlove is selling the home only a year after he bought it due to a change in his “family dynamics.”
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A mansion once owned by the late musician Tom Petty has hit the market with an asking price of $4.995 million.
The home is currently owned by Randy Spendlove, Paramount Pictures’ head of Motion Picture Music, who, the Los Angeles Daily News reports, is selling the home due to a change in his “family dynamics.”
Spendlove has owned the mansion for just a year. In 2015, the estate was foreclosed on by J.P. Morgan, then sold by the bank in 2017 for $2.575 million, the OC Register reports. Spendlove bought the home in October 2018.
The home was once owned by Petty, who died after suffering cardiac arrest in his Malibu home in 2017; his ex-wife Jane Benyo got the Encino, California, property in their 1996 divorce. Benyo then unsuccessfully tried to sell the home in 2013, a few years before it was foreclosed on.
The six-bedroom, ten-bathroom home is listed by Jade Mills and Tiffany Mills with Coldwell Banker, as well as Craig Knizek with The Agency.
Here's a look inside the massive property.
Tom Petty's former home totals 11,483 square feet, with six bedrooms and ten bathrooms. The Los Angeles Daily News reports that it was rebuilt after an arsonist set fire to it in 1987 and burned down almost the entire home.
Petty and his family were eating breakfast when the arsonist doused the home's wooden staircase in flammable liquid and set it on fire. Petty, his then-wife, and their 5-year-old daughter were uninjured, but a housekeeper suffered minor burns.
Source: Los Angeles Daily News, Realtor.com, The Lewiston Journal
The home is currently owned by Paramount Pictures executive Randy Spendlove, who bought it in October 2018 for just under $5 million.
Source: Los Angeles Daily News
According to the Los Angeles Daily News, the bottom floor used to be Petty's recording studio; the OC Register reports that the studio was the only thing spared after the 1987 fire. The studio was dismantled years ago.
Source: Los Angeles Daily News, OC Register
Petty was the lead singer of Tom Petty and the Heartbreakers. The band formed in 1976 and were, as Consequence of Sound reports, at the "forefront of the heartland rock movement." They are one of the best selling bands of all time, having sold more than 80 million records across the globe.
Source: Consequence of Sound
Petty married Jane Benyo in 1974, Bustle reports, and they had two children together. After Benyo and Petty divorced in 1996, Benyo was given the house. She tried unsuccessfully to sell the home in 2013.
Source: Bustle
In addition to having two kitchens, the home also has a wine storage area and a gym.
Source: Los Angeles Daily News
J.P. Morgan foreclosed on the home in 2015, then sold it in 2017 for just $2.575 million. The home was then refurbished before being sold to Spendlove in 2018.
Source: Los Angeles Daily News
Pictured below is one of the home's six bedrooms, which receives an abundance of natural light, with floor-to-ceiling windows.
Source: Jade Mills Estates
One of the ten bathrooms also has floor-to-ceiling windows ...
Source: Jade Mills Estates
... and marble sinks.
Source: Jade Mills Estates
The home also has a comfy lounging area near the pool ...
Source: Jade Mills Estates
... and two kitchens inside.
Source: Jade Mills Estates
There's an impressive pool on the property, in addition to a spa and a rock waterfall.
Source: Los Angeles Daily News
The home's current asking price is $4.995 million.
Source: Jade Mills Estates
