The Beverly House, a legendary Los Angeles estate once owned by newspaper mogul William Randolph Hearst, was sold in an auction held on Tuesday. The winning bid was $ 63.1 million, according to people familiar with the deal.
Listing agent Gary Gold of Beverly Hills-based brokerage firm Hilton & Hyland declined to comment on the price, but said the auction process established a clear market value for an area with few comparables .
“It seemed like everyone was very happy with the result,” Gold said.
The future of the 29,000-square-foot mansion was cemented in August when it was announced that it was to be auctioned on September 14 with an accepted bid in hand for $ 47 million. Intense interest in the courthouse helped push the price up even higher, with six parties participating, Gold says. “It was quite the scene. You have all these people bidding at the same time. There was a lot of interest in the property.
The resort, encompassing 3.5 acres in a prime section of Beverly Hills, had rebounded in the real estate market for more than a decade before the sale. Attorney-investor Leonard M. Ross had owned the estate for more than four decades, and it had been listed for as much as $ 195 million, which at the time included an additional house and square footage.
Designed by architect Gordon Kaufmann, the expansive estate was built in 1926 for banker Milton Getz. The Hearst Connection – The Beverly House is where press mogul and actress Marion Davies lived during their 30-plus-year affair, helped the grand estate reach a new level of recognition in the Los Angeles Real Estate Hall of Fame. The property is also where Jacqueline and John F. Kennedy spent their honeymoon in 1953.
Considered one of Kaufmann’s finest masterpieces, the vast residence resembles a museum with its intricately carved ceilings, paneled walls and a 15-meter entrance hall with loggia. Other highlights include a 22-foot-high hand-painted vaulted ceiling and a two-story bookcase wrapped in hand-carved woodwork. The billiard room has a large antique fireplace from Hearst Castle in San Simeon, California.
Gold, who sold the Playboy Mansion in 2016 for $ 100 million, called the Beverly House sale one of the most rewarding of his career.
“I consider this to be my third Super Bowl ring. There are ten legendary estates in the Westside of Los Angeles, and in the past five years I’ve sold three.
As well as being another feather in Gold’s cap, the sale is the latest in a series of high-priced luxury sales in Los Angeles this year. Among the biggest deals of 2021 was the $ 61.5 million contract for the Barron Hilton Estate and Villa Firenze, a massive Beverly Park resort, which was auctioned in April for $ 51 million.
Hilton & Hyland is a founding member of UKTN Global Properties, a consumer market and a network of elite broker members selling the world’s most luxurious homes.