The highest priced Pasadena luxury home sale in February (2018) was 430 Madeline Dr. The Cravens Estate which was being used as offices for the Red Cross, sold to singer Michael Fenstein for $7,000,000 cash. The property was originally listed for $10,500,000 and was on the market for 241 days.
The MLS remarks read: Situated on Millionaire’s Row, along tree-lined Orange Grove Boulevard and Madeline Drive, is one of the largest and most significant architectural treasures in Pasadena, California. The Cravens Estate was built in the late 1920s, using only the finest materials and world-renowned designers, artisans, and workers, it boasts approximately 20,000 sq. ft. of living space and was constructed of steel reinforced concrete, brick veneer, imported European finishes, and a Vermont slate roof. It was known as the most expensive home ever built in Pasadena, according to a LA Times story dated February 6, 1955. It was designated as a Cultural Heritage Landmark by the City of Pasadena in 1971. It was honored as the Pasadena Showcase House of Design in 2010, when it was partially renovated and restored. First time on the market in over 55 years, this is a once in a lifetime opportunity for someone to add their own chapter to the illustrious history of this magnificent estate.