News Summary
Bruce Karatz and Lilly Tartikoff have sold their impressive Beverly Hills mansion for $27 million, significantly below the initial asking price of $32.5 million. Spanning over 10,500 square feet, the home features nine bedrooms, eight bathrooms, and several lavish amenities including a guest house and a tennis court. This sale highlights the ongoing dynamic real estate activity in the prestigious Flats neighborhood of Beverly Hills, with recent sales demonstrating the strong demand for luxury properties.
Beverly Hills Mansion Sells for $27 Million Amid a Buzzing Real Estate Market
Beverly Hills is buzzing with excitement as another lavish property has changed hands. Bruce Karatz, the former CEO of KB Home, alongside his wife, philanthropist Lilly Tartikoff, has successfully sold their stunning mansion for a whopping $27 million. While it sounds like a tidy sum, this price tag represents about 17% off the original asking price of $32.5 million, which they had set when they listed the home a few months ago!
A Historic Home Full of Charm
Listed on the market in mid-October, this traditional-style mansion boasts a sprawling 10,554 square feet of space, which includes nine bedrooms and eight bathrooms. Built in the 1920s, the home has seen some exquisite renovations, thanks to the talented architect Paul Williams.
Set on nearly an acre of land, this luxurious abode comes with all the bells and whistles that anyone could want. Picture this: a fantastic screening room for movie nights, a cozy library for bookworms, a stylish pool house, a private tennis court for some sporty fun, and even a separate two-bedroom guest house for those long-staying friends or family members. It truly is a slice of paradise in one of the most desirable neighborhoods around.
Who’s the Lucky Buyer?
The buyer of this luxurious mansion is a limited liability company with an address registered in Westlake Village. As for the real estate agents involved in the sale, Drew Fenton from Carolwood Estates had the listing covered, while Jack Harris and Michael Fahimian represented the buyer, ensuring a smooth transaction every step of the way.
Real Estate Action in The Flats
This big sale is only one piece of an ongoing trend in the bewitching Flats neighborhood of Beverly Hills, where real estate activity remains as dynamic as ever. Just last month, another stunning property located at 622 North Elm Drive was sold for $19.9 million after being up for sale for less than a month. This particular home was purchased by a trust connected to accountant Marc Sniderman and celebrity business manager Michael Karlin. Talk about a quick turnaround!
Earlier this year in January, a well-known television executive named David Salzman sold his residence at 702 North Sierra Drive for $17 million. With such rapid sales, it’s clear that buyers are eager to snap up these coveted properties.
A Bountiful Inventory
As the market continues to flourish, the Flats neighborhood’s real estate inventory is seeing an increase, with some enticing listings making waves. Take Gloria Vanderbilt’s estate at 719 North Maple Drive, listed for $16.5 million, which went under contract just a couple of weeks after hitting the market. That’s impressive, to say the least!
Another former supermodel, Christina Estrada, has put her exquisite home at 722 North Maple Drive on the market for $24 million, a reduced price from her initial demand of $26 million. Meanwhile, Hasbro CEO Brian Goldner and his spouse have adjusted their asking price for their property at 610 North Canon Drive from $27 million to $23.5 million, showing that the competition is fierce in this vibrant market.
A Thriving Beverly Hills
As these notable sales and listings continue to emerge, it’s clear that the Beverly Hills real estate scene is alive and thriving. With every passing day, the excitement builds as new homes become available and transactions are sealed. Who knows what the next big sale will bring? Only time will tell in this glamorous slice of Los Angeles!
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Additional Resources
- The Real Deal: Beverly Hills Mansion Sells for $27 Million
- Realtor.com: Gloria Vanderbilt’s Home in Beverly Hills
- Bravo TV: Josh Flagg Buys $14 Million Beverly Hills Home
- People: Josh Flagg Buys Charlie Puth’s Beverly Hills Home
- Haute Residence: Selena Gomez and Benny Blanco Buy $35M Mansion
- Wikipedia: Beverly Hills, California
- Google Search: Beverly Hills Real Estate
- Google Scholar: Beverly Hills Real Estate
- Encyclopedia Britannica: Beverly Hills
- Google News: Beverly Hills Real Estate
