In 1999, Steven Spielberg bought this 2.8-acre LA equestrian estate for $5.75 million

Steven Spielberg and Kate Capshaw are looking to part with a Los Angeles property that has been in their real-estate portfolio for almost 27 years. The couple’s equestrian estate, known as Dogwood, has been listed for $29.9 million.Spielberg purchased the 2.8-acre property in 1999 for $5.75 million, with the estate intended primarily as a place for horses and riding rather than as a family residence. A contemporary listing places the property across two parcels in Sullivan Canyon, with a seven-bedroom main residence and extensive equestrian facilities.When Spielberg acquired the ranch, the appeal was its access to the horse trails of the Santa Monica Mountains and the possibility of having a private riding facility.

A 1999 Los Angeles Times report noted that the gated property already had two houses, a pool and substantial parking.Despite the presence of a sizeable residence today, Dogwood was never the couple’s main home. Instead, it evolved into a highly private equestrian compound, with the horses remaining central to the property’s design and use.Spielberg initially sought permission for a considerably larger equestrian project.

The proposal submitted around 2000 called for a five-storey, 27,000-square-foot indoor riding facility, complete with a retractable domed roof and underground stables. Plans also included a guesthouse and a three-storey guardhouse, with the project estimated to cost more than $7 million.The scale of the proposal drew objections from residents of Sullivan Canyon. Spielberg eventually withdrew the zoning application in January 2001 and said his representatives would hear residents’ concerns before considering a revised proposal.Several months later, the plans were substantially reduced. Instead of the proposed indoor complex, Spielberg and Capshaw moved ahead with an outdoor riding ring. The Los Angeles Times reported in August 2001 that the revised plan no longer required the special zoning approvals sought for the original project.The property that has now come to market is significantly different from the modest ranch Spielberg purchased in 1999.Dogwood’s main residence measures about 6,219 square feet and has seven bedrooms. The interiors feature walnut flooring, plaster walls and wood detailing, while the home also includes a chef’s kitchen, multiple fireplaces, a media and game room and a wine cellar.The equestrian facilities remain the defining feature. One six-stall barn includes staff quarters, grooming stations, a feed kitchen and storage areas.

Above it is a roughly 20,000-square-foot riding arena equipped with an observation deck and mirrored wall, allowing the space to be used for disciplines including dressage and jumping.

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A second parcel adds another four-stall barn and a 5,400-square-foot turnout area. The compound also has a one-bedroom guesthouse with a kitchen, rooftop deck and basement office and storage areas.Spielberg and Capshaw paid $5.75 million for the property in 1999.

At its current asking price of $29.9 million, Dogwood is being offered for $24.15 million more than the couple originally paid.That represents an asking price roughly 5.2 times the original purchase price. It should not, however, be treated as a $24.15 million profit: the figure does not account for construction, renovations, maintenance, taxes, financing or other ownership costs, and $29.9 million is only the current asking price rather than a completed sale price.