The property is for sale by developer Adnan Sen and first came on the market in 2020 for $39.9 million. It includes a nine-bedroom main house, one-bedroom guest house, a swimming pool and a gallery garage for 10 cars.
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A spec mansion in Beverly Hills that was first listed for $39.9 million in 2020 has sold for just $30.1 million, with the buyer’s agent calling it “a good deal.” wall street journal reported on Tuesday.
Developer Adnan Sen of Sen Properties first purchased the property in 2016 for $8.75 million and then developed the nearly 1-acre mansion. The property’s architect was William Hefner from the West Coast.
The buyer of the home was David Nagel, CEO of Decron Properties, which acquires, develops and manages apartments, office towers and retail buildings in California, Arizona and Washington state.
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Dustin Nicholas and Jackie Feldmar-Cohenca of Nicholas Property Group represented the buyer in the transaction. The agency’s Pate Stevens represented the seller.
When the home first came on the market for $39.9 million, it also rented for $165,000 a month, according to Zillow.
In addition to the 16,000-square-foot, nine-bedroom main house, the property also features a one-bedroom guest house. The main house features a chef’s kitchen and catering kitchen, as well as outdoor grilling space. Other hotel facilities include a 12-seat theater, wine cellar, “grand room” and gym.
The home’s design encourages indoor-outdoor living, with multiple floor-to-ceiling windows and sliding glass doors. The grounds feature a pool, cabana and fire pit. The gallery garage can accommodate 10 cars. The hotel is a short drive from the shops and restaurants of the Golden Triangle as well as West Hollywood and the Sunset Strip.
When asked how many years the property had been on the market, Nicholas told wall street journal The initial asking price of nearly $40 million was “a little too aggressive.”
In fact, luxury sales in Beverly Hills have slowed and prices have dropped over the last year. to data From Miller Samuel and Douglas Elliman. As of the fourth quarter of 2023, the number of single-family home sales in Beverly Hills has decreased by 28.9% annually, and the median sales price has dropped by 13% from the same period last year, from US$8.05 million in the fourth quarter of 2022 to the fourth quarter of 2023. quarter’s US$7 million.
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