Los Angeles real‑estate developer Michael R. Kaplan closed the sale of Muhammad Ali’s historic 1915 mansion at 55 Fremont Place on July 18 2024. The 11,545‑sq‑ft Italian Renaissance estate, designed by John C. Austin, changed hands for $8.5 million after a long auction process that began in May 2024.
The property, perched on 1.6 acres in the gated Fremont Place community, once hosted world leaders and Hollywood icons during Ali’s late‑1970s residency with his third wife, Veronica, and their daughters Laila and Hana. Its nine bedrooms, seven bathrooms, and a separate guest house feature original Tiffany stained‑glass windows, crystal chandeliers and carved wooden wall panels, all preserved through a decade‑long restoration led by Kaplan and his wife, Tari.
Kaplan first purchased the mansion in 2001 for about $2.5 million, spending several years upgrading its systems while retaining historical details. The first listing in August 2021 set the price at $16 million, then pulled back, re‑listed at $16.995 million in November 2022, and trimmed to $15 million in early 2023 before going to auction. The no‑minimum auction in May 2024 finally closed at $8.5 million, a 50‑percent drop from its peak 2022 asking price.
Fremont Place, established in 1911, is one of Los Angeles’ oldest private gated communities and has long been a magnet for celebrities and business leaders. This sale marks the first ownership change in 23 years for the mansion, positioning it as a benchmark for high‑value properties in the Hancock Park area and signaling renewed investor interest in historic estates.