Exclusive: Laugh Factory owner buys 272 acres of prime Hawaii real estate

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The owner of Laugh Factory, one of the most popular comedy club chains in the United States that has hosted performances by such stars as Adam Sandler, Chris Tucker, Eddie Murphy and Jay Leno, has made a serious buy of hundreds of acres of prime agricultural lands in Hawaii from Alexander & Baldwin Inc.
Jamie Masada, an American businessman and comedian, who founded Laugh Factory that is headquartered in Los Angeles on famed Sunset Boulevard, purchased 272 acres of agricultural lands on the Hawaiian Island of Kauai’s South Shore that makes up “Brydeswood Ranch” for about $8 million, according to public records.
Brydeswood Ranch, which encompasses 23 subdivided lots ranging in size from four to 17 acres with a total density of about 80 homesites, includes the historic manager’s stone house that was built in 1860, according to Hawaii Life, the listing company for the unique property.
The big land purchase along Kaumualii Highway shows that there’s still considerable interest in Hawaii real estate by well-known figures on the Mainland. Other recent big buys of Hawaii lands by famous individuals include Facebook’s Mark Zuckerberg purchase of hundreds of acres of oceanfront land on Kauai and former Oracle Corp. chief Larry Ellison’s purchase of 98 percent of the island of Lanai for $300 million in 2012.
Brydeswood Ranch is located across the highway from the Kauai Coffee plantation, and is named after Walter McBryde, who pioneered the sugar and pineapple industries on the Garden Isle in the 1800s.
It was on the market for 673 days and there’s also an adjacent 317-acre parcel that’s on the market. It includes the original home of the McBryde family. Alexander & Baldwin, one of the largest landowners in Hawaii, has been an active player in the real estate market in the state in recent years, both buying and selling properties. Its biggest recent purchase was for the commercial core of Kailua Town in Windward Oahu, among other properties, for $373 million.
The Iran-born Masada founded the legendary Laugh Factory in a historic building on Sunset Boulevard once occupied by Groucho Marx





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