We’re told the west Little Rock mansion made famous by the late Jennings Osborne officially has a new owner: John Johnson.
You might recall that Johnson had to wait before taking formal ownership of the 11,700-SF residence in west Little Rock until February 2017 because of restrictions imposed on the seller: the city of Redfield.
The property was given to Redfield as a gift in December 2013 by S&K Arkansas Properties LLC, led by Kourosh Malek.
The gift came with strings, however. Redfield couldn’t sell the house for less than 90 percent of its appraised value until at least 36 months had passed.
Malek bought the house for $292,000 at auction in August 2012. The auction of assets was prompted by the Osborne family’s financial travails, which spilled into public view after the death of its philanthropic and Christmas-lights-loving patriarch in July 2011.
The walled residence on Cantrell Road once appraised at more than $1.5 million. But vandals and neglect took their financial toll until Johnson entered the picture as caretaker and now owner.