Donald Abbey’s Bradbury estate, once listed for $78.8 million, sells for $24.4 million

A Bradbury estate formerly owned by commercial real estate magnate Donald Abbey has sold for $24.38 million.

The sprawling estate, once listed by Abbey for $78.8 million, was deeded over to an asset management company last year and returned to market in February at $39.986 million. More recently, the 35,000-square-foot, Palladian-style mansion was listed for $29.995 million, records show.

Abbey spent nine years building the massive estate, which occupies an eight-acre promontory with city and ocean views. Among details of note are vaulted 40-foot-high ceilings, domes with hand-painted frescoes and a 2,000-bottle wine cellar. The library spans two floors, and the elevator is outfitted in oak paneling.

Two master suites are among the seven bedrooms and 10 bathrooms.

Outside, manicured grounds center on a cross-shaped swimming pool accompanied by shooting waterfalls, a spa and a pool house. Hand-fitted and hand-cut rock walls line the 600-foot driveway. A temperature-controlled pond was once stocked with rainbow trout.

Elsewhere on the property is a subterranean firing range.

Joshua and Matthew Altman, the Altman brothers of Douglas Elliman, were the listing agents. Runjing Chen of Coldwell Banker Residential Brokerage represented the buyer.

Abbey in 1990 founded the investment and management company bearing his name. The privately-held firm, which dabbles in multi-tenant commercial properties, has multiple offices in Northern and Southern California.

neal.leitereg@latimes.com

Twitter: @LATHotProperty

MORE FROM HOT PROPERTY:

New Marmol Radziner-designed home in Santa Monica Canyon seeks $18.5 million

Actor Garrett Hedlund finds a classic spot in Los Feliz to call home

Minimalist modern construction near Echo Park hits the market for $599,000

What $600,000 — about L.A. County’s median home price — buys in three neighborhoods