Property runs in the blood for the Noval family.
A 16,000-square-foot Italian villa in Beverly Hills sold Tuesday for $24.95 million, or about $1,560 per square foot, The Real Deal has learned.
Property records did not disclose the buyer. However, the Summit Drive address is registered to the Victorino Noval Foundation, according to state documents. The for-profit company is led by Victorino Noval, one of the owners of the Beverly Hills property known as the Vineyard.
Victorino’s son, Victor Franco, listed a Beverly Hills home owned by the family’s trust for $17 million in late January.
The six-bedroom, six-bathroom property sits on over one acre of flat land. It features an infinity pool, wine cellar and media room.
The seller was billionaire Alkiviades “Alki” David, heir to a Coca-Cola bottling and shipping fortune. He’s also known for offering $1 million to anyone willing to streak in front of former president Obama.
Marc Noah of Sotheby’s International Realty was the listing agent, but could not be reached for comment.
David listed the mansion for $35 million in May 2015.
“Nobody should consider offering anything less,” he told the Wall Street Journal. “The price is only going to go up.”
The price ultimately dropped to its listing price of $24.95 million.
David, who purchased the property in 2010 for $16.5 million, is the founder of digital entertainment firm Hologram USA and online video company FilmOn.com Inc., both in Beverly Hills.