Can This Classic L.A. Home Avoid the Wrecking Ball?

If these genteel streets could talk! Brentwood Park, one of the most upscale neighborhoods in Los Angeles, was once a hotbed for swanky political fundraisers.

The political climate, on the street and across the nation, has changed significantly since the days when actors Ted Danson and Mary Steenburgen lived in the area and held fundraisers for the Clintons, while business tycoon and conservative political supporter Brad Freeman, also a close neighbor, held similar functions for the Bush family.

Now, a traditional-style home built in the 1920s in the very same neighborhood is on the market and recently had its price sliced. Listed for $7.8 million in April, the home's price is now $7.5 million. Those involved in the sale hope a buyer will want to leave the home, and the memories, intact.

Because, sadly, this house is in danger of meeting its maker. Developers are circling the gracious, 5,824-square-foot home, with plans to raze it to build a modern stunner on the parklike grounds.

These days, the area isn't as politically plugged in, but the celebrities who roam the neighborhood are no less intriguing. LeBron James recently bought a home around the corner for about $21 million, and Jim Belushi has pocket-listed his estate on a double lot across the street for about $45 million. So it's easy to understand why a developer would be eager to plunk down $7.5 million and build a grand, new residence and reap the rewards.

However, listing agent Hugh Evans III of the Partners Trust believes a teardown would be a shame. "This home has a traditional East Coast -- meets -- West Coast vibe," he says, "It's the real thing -- not your modern faux spec home that has no soul."

The estate was built in 1924 and has been significantly remodeled since then. The five-bedroom, 5.5-bathroom home is set back from the street and has large windows overlooking gorgeously landscaped gardens. High ceilings, crown moldings, hand-finished hardwood floors, and exquisite custom detailing throughout add to its traditional appeal.

The spacious country-style kitchen has top-of-the-line appliances, an apron sink, skylights, and a butler's pantry. It opens to the breakfast and family room, and the dining room has french doors that open to the garden. The walk-in wine cellar, with redwood racking for more than 180 cases, is a key feature for those who like to pair vino with a gourmet meal.

Among the home's other assets are a game room with a bar, an office, and a study with custom woodwork. Outside there's a pool and spa with a built-in barbecue nearby, and a detached 473-square-foot guest suite with a bathroom, which could be used for a gym or studio.

All this is just minutes away from the famous Brentwood Country Mart and some of L.A.'s best restaurants, including celebrity hangouts like Katsuya, Tavern, and Toscana.

"This home is not necessarily what many of today's buyers understand, but it's perfect for the person who is relocating from the East Coast to the West Coast," says Evans. "You either get it or you don't, but it's definitely the best value in Brentwood Park right now."