C. Frederick Wehba, co-founder of international real estate investment firm BentleyForbes, just sold a palatial estate in Beverly Hills for $11.7 million, The Real Deal has learned.
Wehba — notorious for building and selling an elaborate 36,000-square-foot mansion with golden walls on Sunset Boulevard — sold the compatively-less-extravagant French Mediterranean-style property at 1700 Green Acres Drive to a wealthy foreign individual in a sale that closed escrow today, sources said.
The 9,200-square-foot gated estate has 25-foot ceilings, a dramatically curved staircase, a library, a powder room, five bedrooms and seven bathrooms. There’s a private driveway and a service entrance. The resort-like grounds include a backyard patio, private pool and spa, and a side yard with fruit trees.
Myra Nourmand and Joanna Suhl of Beverly Hills’ Nourmand & Associates represented Wehba in the sale. Sen Wang of Rega Realty Services represented the buyer.
Webha is known for aiming high with his listing prices, and this property was no exception. He listed it in October 2015 for $12.5 million, but accepted the $800,000 cut months later.
This price chop was nothing compared to Webha’s gold-lined Sunset palace, which he listed for $68.5 million in 2010 and sold for $34.5 million in 2012.