A pair of properties in Beverly Hills totaling almost two acres are headed to the market for a combined $38 million.
They’re being listed by Robert Flaxman, the CEO of Crown Realty & Development who recently served a month in jail for trying to cheat his daughter into college by inflating the ACT test score, according to the Wall Street Journal.
He was one of many parents, including actresses Felicity Huffman and Lori Loughlin, swept up in last year’s federal investigation of a wide-ranging college admissions scandal. Loughlin and her husband Mossimo Giannulli recently sold their Bel Air mansion for a big discount to Tinder co-founder Justin Mateen.
Flaxman said he originally planned to develop the two Beverly Hills properties himself, but is now moving to a large ranch in Malibu. The 64-year-old developer bought the first property in 2017 for around $12 million and bought the property next door after his neighbor died.
That first property has a 5,500-square-foot red brick home built in the 1970s. The Regency-style home has four bedrooms, a bar, multiple fireplaces, and a pool, according to the Journal. Flaxman paid $11.3 million for the three-bedroom property next door.
Rayni and Branden Williams of Hilton & Hyland and Tyrone McKillen of Compass have the listings. The properties could be sold separately or together. [WSJ] — Dennis Lynch