Lenny Dykstra's Home Finally Sold

by Deidre Woollard (RSS feed)
Feb 4th 2011 at 10:00PM

At long last the saga of Lenny Dykstra's former mansion in Thousand Oaks, California is over. We've been following this once for what seems like eons. It all began back in 2007 when the former Mets player nicknamed "Nails" bought the luxurious home from Wayne Gretzky for $18.5 million. At this point, Dykstra was on top of the world. Om 2008, the New Yorker featured an article on his new luxury magazine, The Players Club, aimed at professional athletes. The magazine was created to show the pros not just how to spend the massive amounts of money they earn but also how to keep their wealth and make smart decisions so they don't join the ranks of players who earn millions and wind up in financial trouble just a few years later. Sadly, Dykstra's own fortunes soon quickly unravelled amid lawsuits and feuds as he was chased by creditors and writers alike. The magazine folded and Dykstra's home hit the market in June 2008 for $24.95 million.

From there it only got worse. The six-bedroom home didn't sell, Dykstra's Gulfstream II was impounded, and the home was scheduled for a foreclosure auction which Dykstra averted by filing Chapter 11. Later the case was change to a Chapter 7 liquidation after Dykstra's plans to reorganize and regroup fell through. Jeff Smith of Index Investors, the second lienholder, bought the country club estate out of foreclosure last fall and now he has finally sold the home. It had been most recently on the market for $10.5 million. According to CNBC, Jeff Smith's attorney has said he will be working with Chase, which held Dykstra's mortgage, to split the proceeds.

The neo-Georgian home in the Lake Sherwood area was designed by architect Richard Landry. The lavish property also has a guest house, carriage house, tennis courts, pool, spa and gym on 6.69 acres.

Gallery: Lenny Dykstra in Thousand Oaks