05/15/2023
Scooter Braun Buys Broad Art Foundation Building In Santa Monica for $25.9M
The four-story brick building, built in 1927 and located about a block from the beach, was previously owned by a company linked to the family of designer Diane von Furstenberg.
Before philanthropist and real-estate developer Eli Broad and his wife Edythe opened The Broad museum in downtown Los Angeles in 2015, the couple housed their Broad Art Foundation in a 1927 brick building in Santa Monica, about a block from the beach. Early works in their collection included pieces by such artists as Barbara Kruger, Christopher Wool, Jeff Koons, Ed Ruscha, Cy Twombly and Glenn Ligon, and the space became a must-visit for collectors and curators during visits to Los Angeles.
But after the museum opened, the Broads sold the building in 2015 to a limited-liability company, according to the Wall Street Journal, tied to the family of designer Diane von Furstenberg. The sale price eight years ago: $16.5 million.
Now, the building known for its connection to the art world has a new owner who comes from the music world: Scooter Braun.