Pacific Palisades, an affluent Los Angeles enclave known for its multimillion-dollar homes, is facing the devastating threat of wildfires, with many properties at risk of being reduced to ashes.
Real estate developer and film producer Anita Verma-Lallian purchased the late actor Matthew Perry’s former home in Pacific Palisades for $8.55 million last year, intending it as a family retreat. Now, the four-bedroom hillside property overlooking the Pacific Ocean’s stunning coastline may no longer be standing.
The home is among numerous luxury residences in the path of a ferocious wildfire that has been ravaging Los Angeles since January 7. Verma-Lallian had been monitoring the situation via security cameras as the flames consumed nearby areas. By the afternoon, the cameras went dark.
“We’re still hopeful,” she said. “Nobody knows what happened overnight, but we’re clinging to hope that everything is okay.”
Elite Enclave Under Siege
Pacific Palisades has long been a haven for Los Angeles’ wealthy elite. The Palisades Fire has already scorched nearly 3,000 acres, destroyed over 1,000 structures, and forced tens of thousands of residents to evacuate.
Nearby neighborhoods, including Eaton and Hurst, are also under siege, with many families fleeing their homes.
The neighborhood’s appeal lies in its serene atmosphere, scenic ocean views, and proximity to the Santa Monica Mountains. Residents can enjoy hiking trails and beachfront strolls, and its small-town charm includes boutique shops and cafes. High-profile homeowners such as Reese Witherspoon, Ben Affleck, Jennifer Garner, and Steven Spielberg have called the Palisades home.
Rising Risk of Wildfires
While the area has avoided significant wildfires in recent decades, 96% of properties in Pacific Palisades are at risk of wildfire damage over the next 30 years, according to research firm First Street Foundation.
“Pacific Palisades faces extreme risk,” said Jeremy Porter, chief research officer for First Street. “Its location between expansive natural parks makes it highly vulnerable, especially during dry seasons when vegetation becomes fuel for fires.”
Property Owners on Edge
Kurt Rappaport, a Los Angeles real estate investor, is unsure about the fate of two properties he owns in nearby Brentwood and a newly purchased $22.5 million Malibu home. His family has evacuated, and security cameras have gone offline, leaving them in the dark about the status of their homes.
“A massive cloud of smoke is blanketing the city,” Rappaport said. “It looks like the apocalypse.”
The median property value in Pacific Palisades is $3.4 million, according to Zillow, with 16 homes listed for $10 million or more. In Brentwood, 18 properties exceed this benchmark. The priciest listing in Pacific Palisades is a $60 million modern estate, while a $36.995 million Italian-style villa once owned by boxing legend Sugar Ray Leonard is also on the market.
Brentwood’s most expensive listing is a $64.5 million estate owned by Milwaukee Brewers co-owner Robert Beyer, who confirmed his property is currently safe and outside evacuation zones. However, other high-profile residents like Petra Ecclestone, daughter of Formula One mogul Bernie Ecclestone, and her husband Sam Palmer, have had to evacuate their $30.5 million estate.
Palmer, now watching the news from a Beverly Hills hotel room, expressed uncertainty: “For now, it’s still standing, but who knows by the end of the day?”
A Community Disrupted
Garret Gray, president of global insurance solutions at CoreLogic, evacuated Pacific Palisades with his three children.
“The roads were gridlocked,” Gray said. “Our entire street was engulfed in flames.”
Even homes spared by the flames face potential damage from smoke or water used in firefighting efforts, Gray noted.
“The entire community will have to reckon with the aftermath,” he said.
(Compiled from WSJ, AFP, Reuters)
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