Via Curbed LA: The lucky new owner of this Venice beach home will acquire an architectural gem, an unreleased Eric Clapton recording, a hefty tax break, and the opportunity to donate in a big way to tsunami relief efforts in Japan.
Actor and architect Stephen Meadows is selling his Arata Isozaki-designed Venice home for $2.5 million. According to public records, Meadows purchased his home from singer Eric Clapton in 2004 for $1.4 million and was surprised to find a tape of one of Clapton's recorded practice sessions left behind. Meadows affirms in a press release that the tape "stays with the house. It's part of the home's history."
Meadows is on a tight deadline when it comes to selling the home. He has until next January to qualify for California's Prop 60/90, a one-time only break on property taxes. SmartMoney explains:
[Meadows] currently pays around $12,000 a year in taxes on his old home and $28,000 on his new $2.45 million Bel Air home, which he purchased about a year ago.
But California’s Prop 60/90 can change all that. In simple terms, Prop 60/90 allows some house-sellers to move and take the lower tax base of their old home with them. Residents who are over 55 in Los Angeles and several other counties in California, are eligible. But the price of your new home can’t be more than the current market value of your old one.
If Meadows receives competing bids that go beyond the $2.5 million asking price, he plans to donate the extra money to Japan for the tsunami relief efforts under the new homeowner's name -- which could also mean a hefty tax break for him or her, as well.
The home is designed by Japanese architect Arata Isozaki, who is known less for his residential designs and more for large-scale building projects like concert halls, museums, and universities. Isozaki designed the Museum of Contemporary Art (MOCA) in Downtown Los Angeles.