The estate is listed by Branden and Rayni Williams of Beverly Hills Estates with a price tag of $55 million and is also set for a no-reserve auction with Concierge Auctions from May 9 to May 23.
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The Los Angeles estate of late fashion designer Max Azria is up for auction, nine years after it first sold for $85 million. wall street journal reported Thursday.
The nearly three-acre estate in Los Angeles’ Holmby Hills was reportedly listed for $85 million in 2015, but was torn down and put back on the market multiple times that year. Zillo. By 2016, the asking price rose to $88 million and remained high until late 2019, when the price dropped to $78 million. Since then, prices have fluctuated, and the hotel’s agents have cycled through The Agency, Hilton & Hyland, Compass and others.
Today the estate is Listed by Branden and Rayni Williams of Beverly Hills Estate For sale for $55 million, it is also set to participate in a no-reserve auction with Concierge Auctions from May 9 to 23.
Paul Williams designed the 30,000-square-foot estate, which features three different structures and includes 14 bedrooms and more than two dozen bathrooms.
Azria, the founder of BCBG Max Azria Group, passed away in 2019 at the age of 70. He and his wife, Lubov Azria, purchased the property in 2005, according to records.
Lubov said the couple was attracted to the property’s pedigree but spent about $30 million on a complete renovation that spanned several years.
Lubov Azria told wall street journal Over the course of the property’s many listings, the couple didn’t always put their best foot forward to sell it.
“First, we have different visions of what we want the house to look like — is it a rental? We put it on the market and then things change,” Lubov said.
Putting the house up for auction shows that she is serious about selling the house this time. Now that the children are grown and Max is gone, Lubov said she spends most of her time at her home in Venice Beach, where she has an art gallery.
“It’s really just me. My youngest is 27. I’m going to move on with my life now.”
The estate has lush gardens, including a Japanese garden and a rose garden. The courtyard also features a Turkish bath with sauna, steam shower and massage area. a swimming pool; tennis courts with elevated viewing boxes; and a greenhouse.
The home office has a secret doorway to the home theater and there is a game room nearby. The property also includes a catering kitchen and parking for more than 20 cars.
Lubov said the couple frequently entertained friends and family at their home, including hosting weekly Shabbat dinners, a large Oscar party, fashion shows, charity events and more. Two of their daughters (they had six children) even got married on the estate.
Max Azria was born in Tunisia and grew up in Paris. After 11 years designing women’s collections in Paris, he moved to the United States in 1981. After arriving in the United States, he developed the women’s fashion brand BCBGMAXAZRIA, which he eventually expanded with Lubov.
BCBG Max Azria Group went bankrupt and was sold in 2017, and Azria left the fashion world to become CEO of LED light bulb and bug zapper company ZappLight and its parent company Clean Concept LLC.
Los Angeles’ luxury home market has been booming since the Azria Estate first came on the market nearly 10 years ago, with a flurry of activity in 2021-22 before stalling when the mansion tax took effect in the spring of 2023. .
According to statistics, the median sales price of luxury single-family homes in Los Angeles in the fourth quarter of 2023 was $11.8 million, an 8.5% annual decrease Douglas Elliman and Miller Samuel. A total of 50 luxury single-family homes closed during the quarter, the same number as in the fourth quarter of 2022.
Correction: An earlier version of this story referred to the auction house as “Sotheby’s Concierge Auctions,” but the company is now called “Concierge Auctions.”
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