This deal has some romance and some action.
Real estate investor Ben Nehmadi has nabbed two Beverly Hills properties for the price of one. The two adjacent homes, which traded for a combined $30 million, were home to the late novelist Jackie Collins and to Al Pacino, respectively, the Wall Street Journal reported.
Collins’ estate had listed the 20,000-square-foot main mansion for $30 million in February, but it was later reduced to $24.5 million.
The second property, a 5,200-square-foot, six-bedroom house, was never listed for sale. Pacino has been its occupant for about a decade. Sources close to the transaction told the Journal that the “Godfather” and “Godfather II” actor will stay in place for now.
The listing agents on the deal were Brett Lawyer and Susan Smith of Hilton & Hyland. Richard Maslan of Hilton & Hyland represented Nehmadi.
The real estate mogul, who heads Republic Investment Company, is a long-term resident of Beverly Hills but wanted a larger home. Nehmadi and his family plan on residing in Collins’ larger home and may use Pacino’s current home as a guest house, sources told the Journal.
Collins, known for her best-selling romance novels, built the eight-bedroom main house on a one-are lot in the early 1990s. It has its own guesthouse, swimming pool and tennis court. [WSJ] — Cathaleen Chen