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Celebrity Real Estate: Fall Out Boy Pete Wentz Settles Down In Studio City

Images above courtesy Rodeo Realty 
Hot off the presses from Trulia Luxe Living is Pete Wentz's home purchase in Studio City for $1,050,000 on April 13, 2012. 

Pete Wentz who was born Peter Lewis Kingston Wentz III is an American musician known for being the bassist and primary lyricist for the American rock band Fall Out Boy who are on an indefinite hiatus. Since the hiatus, he has formed the band Black Cards and owns a record label that has signed Panic! at the Disco and Gym Class Heroes. Pete Wentz continues to be heavily involved in a variety of endeavors such as writing, fashion, nightclubs, art galleries, film, television, and philanthropy and activism. 

In 2008, he married Ashlee Simpson at the Simpson family home in Encino where Simpson's father officiated the ceremony. In November 2008, Simpson gave birth to their son, Bronx Mowgli Wentz.  In 2011, Simpson and Wentz divorced citing "irreconcilable differences." 

According to the listing, this 3 Bed/3 Bath, 2,000 sqft home on 5,980 sqft built in 1948 states:
Situated in the foothills amongst a forest of tall trees, waterfalls and exotic plantings sits this beautiful traditional home. From the minute you enter the teakwood gates you're struck by the sounds of falling water and the colors of the garden~~~the setting is truly magical. The property has been lovingly maintained and enhanced over the years and the interiors are filled with designer touches. The open-plan living, dining and kitchen have a wood burning fireplace and a wall of French doors opening on to a grand, Wisteria covered veranda. Also opening out is the convertible 3rd bedroom or den. Upstairs is the master suite, office and guest bedroom and 3rd bath. The custom baths feature vessel sinks, glass tiles, stone & custom cabinetry. Outside, lush grounds surround the house and meandering pathways take you to a tree shaded spa, Japanese tea house, children's' play house , waterfalls and architectural koi pond. The separate guest quarters and bath complete this amazing property.
Prior to this home, Pete Wentz lived in Ashlee Simpson's 5 Bed/6.5 Bath 5,896 sqft Beverly Hills home (formerly owned by comic Rita Rudner). She purchased this home on January 11, 2007 for $4.5 million and sold 4 years later for $3,475,000 on June 14, 2011 taking a massive loss of $1,025,000 not including commissions, taxes, and other related expenses. This sale was well covered on real estate sites like Realestalker (2011), Realestalker (2009), AOL Real Estate, AOL Luxist, Blockshopper, and LA Times Hot Property

Prior to Pete Wentz living with Ashlee Simpson, he owned a mid century modern Hollywood Hills home that also lists the Fall Out Boy's manager, Robert McLynn, on the property records. The home measured 3 Beds/3 Baths on 2,700 sqft built in 1961. Pete Wentz purchased this property on June 6, 2006 for $1,625,000 and later sold on October 3, 2008 for $1,600,000 representing a minor loss of $25,000 not factoring in commissions, taxes, and other real estate expenses. You can view pics of the home at the Gossip Rocks forum and was also discussed by the Realestalker

On an unrelated note, the Studio City home purchased by Pete Wentz is walking distance to two  architecturally significant homes; the Waxman House by Barry Moffitt and R.M. Schindler's The Goodwin House.

You can view more Celebrity Real Estate here

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Marty Mcfly

Anything and everything about the San Fernando Valley. This blog will take you back in time when the valley was covered with dirt and orange groves to a leader in the space race to its current status as America's suburb. Come along and join me on this adventure, I guarantee you have been influenced/impacted by the San Fernando Valley in one form or another even if you have never visited or heard of the SFV.

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