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The Real Deal Los Angeles

Nail polish mogul buys Brentwood estate, chipping 20% off asking price

Miriam Schaeffer, former executive at OPI Products, paid $15M for the home
By Natalie Hoberman | February 11, 2019 04:00PM

Home on Woodburn Drive (Credit: Realtor, Wikipedia, and iStock)

Miriam Schaeffer, a former executive at the nail polish products company her ex-husband founded, paid $15 million for a Brentwood home, The Real Deal has learned. The closing price was more than 20 percent less than its offering three months ago.

The seller was James Gordon, founder of Chicago-based private equity firm Edgewater Funds, property records show. In November, he listed the 10,200-square-foot home for nearly $19 million.

At $15 million, or about $1,470 per square foot, the sale establishes a new record for highest price and highest price per square foot in the gated Brentwood Circle, according to listing agent Sam Real of Engel & Volkers.

Schaeffer previously served as an executive at the Calabasas-based OPI Products nail polish company. Her ex-husband, George Schaeffer, founded the company in 1981. In 2016, she sold a gated estate in Beverly Hills for $15 million. A pharmaceutical executive purchased that home, which includes six bedrooms and eight bathrooms.

Located on Woodburn Drive, the French provincial style Brentwood estate includes six bedrooms and nine bathrooms on a half-acre lot. Amenities include a 15-seat theater, gym, office, wine cellar that fits up to 7,000 bottles, and a six-car subterranean parking garage. There is a swimming pool and olive trees outside.

The property last traded for $10.4 million in November 2016, property records show.

Real represented Gordon, while Jacob Dadon at the Agency represented Schaeffer.

Elsewhere in Brentwood, talent agent executive Ari Emanuel is seeking a buyer willing to dish $19 million for his bachelor pad. The co-CEO of William Morris Endeavor recently listed his 8,000-square-foot home on Mandeville Canyon for sale after splitting from his wife of 20 years.