After selling one Beverly Hills home, Geoff Palmer purchases another for $10.3M

Los Angeles /
Mar.March 22, 2017 12:45 PM

Looks like developer Geoffrey Palmer is a fan of Beverly Hills Flats.

The real estate mogul sold a home on N. Sierra Drive earlier this month for $8.5 million. A week later, he bought a Spanish Colonial-style estate on N. Arden Drive for $10.3 million, or $1,502 a square foot, The Real Deal has learned.

Built in 1930 by L.A. architect Paul Williams, the 6,889-square-foot home has six bedrooms,10 bathrooms and a wrap-around terrace covered in roses. The backyard includes a pool, outdoor fireplace, cabana and a dining area with a barbecue and pizza oven. There’s also a detached one-bedroom, one-bathroom guest apartment above a three-car garage.

The home is registered to the developer’s wife, Anne Palmer, a trustee at the Los Angeles County Museum of Art, according to property records.

Palmer purchased the residence just under its asking price of $10.9 million. It first hit the market in August 2016, asking $11.9 million, before getting a price cut in October.

The seller is a trust associated with Barry Perlman. It’s unclear whether it is the same Barry Perlman who co-founded Lucky Brand jeans in 1989.

Billy Rose and Natasha Barrett of the Agency represented the seller. Susan Perryman of Hilton & Hyland was the buyer’s agent.

Palmer, one of President Donald Trump’s biggest campaign donors, was once dubbed Downtown’s worst developer by Curbed. The publication cited his  massive faux-Italianate apartment complexes such as the Orsini, the Medici and the Da Vinci, the latter of which burned down to a crisp last year.


Related Articles

arrow_forward_ios
Developer Geoff Palmer with one of his properties (Getty, G.H. Palmer Associates)
$100M moratorium: That’s how much Geoff Palmer’s firms say LA eviction ban has cost them
$100M moratorium: That’s how much Geoff Palmer’s firms say LA eviction ban has cost them
From left: Robert Zangrillo, Geoff Palmer, Tom Barrack and President Donald Trump (Getty, iStock)
Trump’s people claim Geoff Palmer and Tom Barrack backed Zangrillo pardon
Trump’s people claim Geoff Palmer and Tom Barrack backed Zangrillo pardon
Geoff Palmer and a rendering of the project (Getty)
New renderings show Geoff Palmer’s 1K-unit DTLA apartment project
New renderings show Geoff Palmer’s 1K-unit DTLA apartment project
From left: Jeff Worthe, Joyce Rey, Geoff Palmer, Jaime Lee and Frank Gehry (Credit: Alberto E. Rodriguez/Getty Images, Jonathan Leibson/Getty Images, Grant Smith/Construction Photography/Avalon/Getty Images)
Here are LA’s real estate players who donated to Biden and Trump in 2020
Here are LA’s real estate players who donated to Biden and Trump in 2020
Geoff Palmer proposes building 15-story apartment tower at 2321-2327 South Flower Street (Credit: Getty Images, Google Maps)
Geoff Palmer plans 280-unit apartment tower in South LA
Geoff Palmer plans 280-unit apartment tower in South LA
Malibu Real Estate Investments principals Bedros Oruncakiel and Kirkor Suri
Malibu spec mansion lists amid softening luxury market
Malibu spec mansion lists amid softening luxury market
Geoff Palmer and Orsini II
Geoff Palmer nabs $128M refinancing on DTLA resi complex
Geoff Palmer nabs $128M refinancing on DTLA resi complex
Chandler Parsons and his property on Stone Canyon Road (Credit: Getty Images)
Durant wants out of Malibu, and now Chandler Parsons is listing his Bel Air mansion
Durant wants out of Malibu, and now Chandler Parsons is listing his Bel Air mansion
arrow_forward_ios

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

Loading...