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The Real Deal Los Angeles

DTLA developer Barry Shy chops price of Beverly Hills manse to $28M

He first listed it last year, asking $34.5M
By Subrina Hudson | May 08, 2017 04:40PM

1024 Summit Drive, Barry Shy (MLS/Getty Images)

Downtown developer Barry Shy is lowering his expectations.

The longtime Historic Core developer re-listed his Beverly Hills mansion designed by architect William Beckett this week for $27.9 million — $6.5 million less than its original asking price in March 2016.

The 13,500-square-foot property has seven bedrooms and seven bathrooms. It was completely remodeled in 2012, with floor-to-ceiling glass windows throughout the property, a game room, a wine cellar and a theater. The master suite has its own private deck and jacuzzi.

Shy, who is selling the home fully furnished, purchased the estate in 2013 for $10.6 million, according to property records.

Aaron Kirman of John Aaroe Group and Barry’s son, Rommy Shy of Royalty Realty, have the listing.

Barry Shy has developed several properties in Downtown Los Angeles including the Bartlett Building at 215 W. Seventh Street and the SB Tower apartments at 600 S. Spring Street.

The Planning Commission approved the plans for his most recent project, the 15-story Broadway Lofts development directly across the street from Geoff Palmer’s Broadway Palace, in January.