Morad Ben Neman’s Beverly Hills home hits market for $15M

Los Angeles /
Feb.February 03, 2017 03:30 PM

A five-bedroom Beverly Hills home owned by Morad Ben Neman, a real estate investor who was indicted for allegedly money laundering for the Sinaloa drug cartel, has hit the market asking $14.95 million.

The Wallace Neff-designed property, at 805 North Linden Drive, is best known as the site of a plane crash involving business magnate Howard Hughes in 1946. Hughes, who was manning the first ever flight of his XF-11 airplane, reportedly crashed into the property while attempting to make an emergency landing.

Neman bought the home from former Beverly Hills mayor Richard Stone for $6.25 million in 2013, records show.

He and his wife completely restored the five-bedroom, five-bathroom property to its original glory. It features a two-story formal living room, hand-painted cathedral ceilings, white marble and wood floors, an outdoor dining area, a spa and a pool.

Myra Nourmand of Nourmand & Associates, who listed the home with colleague Seth Perry, declined to comment on the listing but sources said Neman is selling because he already purchased a bigger home north of Sunset.

The Downtown L.A. investor is perhaps best known for being swept up in a money-laundering probe in 2014. He was arrested after the Department of Justice named him in an indictment, alleging he and others laundered $370,000 in cash, some of which apparently had blood stains, for an undercover agent posing as a courier, according to the federal indictment.

That case is pending.

A property Neman owns on 931 East Olympic Boulevard was targeted last month when City Attorney Mike Feuer cracked down on unpermitted housing in the wake of the Oakland fire. The building had no fire alarms or escapes, according to a criminal complaint filed by Feuer’s office. Neman was charged with several misdemeanors and faces up to four and a half years in jail, Feuer said.


Related Articles

arrow_forward_ios
Despite guilty plea, South Park skyscraper tied to Ben Neman advances
Despite guilty plea, South Park skyscraper tied to Ben Neman advances
Despite guilty plea, South Park skyscraper tied to Ben Neman advances
Facing prison, Neman brothers sue investment partner for $40M
Facing prison, Neman brothers sue investment partner for $40M
Facing prison, Neman brothers sue investment partner for $40M
Plans for DTLA apartment building include Morad Ben Neman in ownership group
Plans for DTLA apartment building include Morad Ben Neman in ownership group
Plans for DTLA apartment building include Morad Ben Neman in ownership group
Drugs, money laundering and real estate: Developer Ben Neman’s guilty plea puts spotlight on DTLA empire
Drugs, money laundering and real estate: Developer Ben Neman’s guilty plea puts spotlight on DTLA empire
Drugs, money laundering and real estate: Developer Ben Neman’s guilty plea puts spotlight on DTLA empire
City of LA fronts Morad Ben Neman $400K for evicted artists
City of LA fronts Morad Ben Neman $400K for evicted artists
City of LA fronts Morad Ben Neman $400K for evicted artists
HBC's Richard Baker with  9600 Wilshire Blvd (SFA, Cornell)
Historic Saks Fifth Avenue complex in Beverly Hills eyed for redevelopment
Historic Saks Fifth Avenue complex in Beverly Hills eyed for redevelopment
KBS CEO Marc DeLuca and Union Bank Plaza at 445 S Figueroa Street in Los Angeles (Loopnet, LinkedIn)
Another deal for KBS’ Union Bank Plaza falls through
Another deal for KBS’ Union Bank Plaza falls through
10771 Bellagio Road with Ben Affleck and Jennifer Lopez (Linda May Property Group, Getty)
Pending sale of Bel-Air mansion poised to take one of LA’s biggest asks off market
Pending sale of Bel-Air mansion poised to take one of LA’s biggest asks off market
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...