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The Real Deal Los Angeles

Estate of toy mogul Robert Silverstein sells Beverly Hills home for $21M

Property came with an adjacent 10K sf lot

November 29, 2016 10:00AM
By Katherine Clarke

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Robert Silverstein and 1016 N. Hillcrest Road

Robert Silverstein and 1016 N. Hillcrest Road

The estate of Eldon Industries CEO and philanthropist Robert Silverstein and his wife Anita has sold a handful of contiguous lots situated on the border of Beverly Hills for $21 million, The Real Deal has learned.

The closing price was well in excess of the $18.75 million asking price for the property, which was listed by Trevor Levin, Michael Nourmand and Adam Sires of Nourmand & Associates.

Levin would identify the buyer only as a “local businessman.” He was represented by Victoria Risko of Sotheby’s International Realty.

The principal lot, at 1016 North Hillcrest Road, comprises a main house with four bedrooms, a winding pebble driveway, glass walls and even a secret speakeasy. The deal also includes a 10,000-square-foot lot above the house.

“This house is over ten years in the making and its elegance is only enhanced by its breathtaking city, ocean and canyon views,” Levin said of the property, which is on a private bluff north of Sunset.”We put the lots on the market separately but with the feeling that someone would purchase them together. A lot of buyers have been doing that anyway, for privacy.”

Robert Silverstein was the CEO of Eldon in 1990 when the company was acquired by Rubbermaid. Silverstein remained with the firm until his retirement in 1991. The company was well known for repackaging and distributing Japanese toys, such as the the Billy Blastoff astronaut toy produced by Tomy.

Silverstein died in 2012. His wife, Anita, died in the summer of 2016.

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