A home in Beverly Hills “golden flats” area has hit the market for the first time in nearly 20 years, asking $40 million.
The property appears to be owned by the estate of Norbert Gehr, the late founder of the Gehr Group, a Los Angeles-based real estate and investment firm with a growing hospitality division. Gehr, a Brazilian-born U.S. citizen, died in 2015.
Gehr picked up the property, at 613 North Canon Drive, for just $3.4 million in 1998.
Jeff Hyland of Hilton & Hyland has the listing.
David Lifschitz, president of the Gehr Group, was not immediately available for comment. The company has been an active real estate investor and owns several hotels in New York, including the Four Points by Sheraton Hotel at 326 West 40th Street and the Fairfield Inn & Suites at 330 West 40th Street.
The eight-bedroom, 17-bathroom property totals 20,829 square feet and sits on one of the deepest lots in the area. It also includes an outdoor spa, a paneled library, a theater with a ceiling designed to look like a starry sky, an indoor basketball court, a beauty salon and a two-lane bowling alley.
The property was designed by famed yacht architect Roy Sklarin, according to the listing, which was posted on Zillow.