In Los Angeles’ hot housing market, even big-ticket properties don’t stay on the market for long.
Hankey Group’s Rufus Hankey paid $27 million for the late Sumner Redstone’s Beverly Hills estate, less than a month after it hit the market, according to Dirt.com.
Hankey, whose father Don Hankey founded the eponymous conglomerate, paid all cash for the 15,400-square-foot mansion. It was about $900,000 below the asking price for the property at 31 Beverly Park Terrace, according to the report.
Redstone died last year at 97, with an estimated net worth of $2.6 billion. He bought the mansion from actor Sylvester Stallone in 2002 for $14.5 million, and remained there until his death. Separately, Stallone in January listed his 21,000-square-foot mansion in the neighborhood.
The Beverly Park Terrace spread was built in the 1980s and includes five bedrooms and nine bathrooms. The 1.9-acre estate sits behind a gated driveway. There is a fitness wing with an indoor plunge pool and gym. There is also a wine cellar, along with a library and office, and a home theater.
The rear of the home opens to a lawn and infinity pool with views over the canyon and city. There is also a secluded spa and sunken tennis court.
Rufus Hankey is also chairman of software developer Nowcom. He recently divorced his wife Amber, who bought a $10 million mansion in Beverly Hills earlier this year, Dirt reported.
Meanwhile, Don Hankey in May paid $21 million for a home in Malibu.
[Dirt] — Dennis Lynch