Billionaire Berggruen buys some elbow room in Beverly Hills

Adds house next door to the legendary Hearst estate he bought at auction for $63M

Los Angeles /
Jan.January 17, 2022 12:30 PM
1013 N Beverly Dr (Rochelle Maize Realty, iStock)

Last fall, Nicolas Berggruen landed William Randolph Hearst’s former Beverly Hills estate for $63.1 million – and now he’s bought the house next door.

The Paris-born billionaire investor picked up the 6,300-square-foot, Mediterranean-style villa at 1013 N Beverly Dr. for $12.3 million, according to Dirt.

The seven-bedroom, eight-bath home, built in 1954, has a circular driveway, motor court and an attached three-car garage — including a bay that looks to have been converted into a guest flat.

Outside, the nearly acre-size property includes an expansive lawn tied to a deck and swimming pool.

(Source: TheMLS.com)

Inside, visitors step into a tall-ceiling foyer sheathed in marble and topped by a crystal chandelier. A family room and corner bar, plus the wood-paneled living room and fireplace, have walls of glass that lead outdoors. An all-wood kitchen includes top stainless appliances. A master bedroom has a fireplace and mini bar.

If added to the storied Hearst estate next door, Bergguen’s Beverly Hills compound would total about 4.5 acres.

In September, the founder of the Berggruen Institute beat out five other bidders vying for the 29,000-square-foot Hearst estate whose owner, Leonard Ross, was mired in bankruptcy. The house next door was also sold as part of the same bankruptcy proceeding.

The institute is building a new headquarters on 450 acres in the Santa Monica Mountains.

The philanthropist and peripatetic real estate investor permanently relocated to Los Angeles last year. The head of Berggruen Holdings, a private investment company, has dual American and German citizenship.

Berggruen’s main house is in West Hollywood’s Sierra Towers building, where he spent more than $20 million buying up at least seven different condo units, according to Dirt. He also owns a 1920s Spanish Revival-style Hollywood mansion atop the Sunset Strip.

He paid more than $40 million five years ago for half the legendary estate of Edie Goetz, daughter of Metro-Goldwyn-Mayer co-founder Louis B. Mayer, in Holmby Hills. Then he paid $22.5 million for the other half of the Goetz estate next door.

[Dirt] – Dana Bartholomew





    Related Articles

    arrow_forward_ios
    The property at 10301 Strathmore with Architect Richard Manion (Richard Manion, 10301 Strathmore)
    $25M ask hits mid-market in Holmby Hills
    $25M ask hits mid-market in Holmby Hills
    Clockwise from top left: Harrison Street CEO Christopher Merrill, 2825 Santa Monica Boulevard, Stockdale Capital Partners' Steven Yari and Shawn Yari and 9090 Wilshire Boulevard (Harrison Street, Stockdale Capital Partners) 
    Harrison Street buys Westside medical offices for $156M
    Harrison Street buys Westside medical offices for $156M
    Roy Eddleman and exterior of Villa Firenze (University of California Irvine, Zillow)
    Villa Firenze listed for $120M
    Villa Firenze listed for $120M
    Frank Zarabi of Fam Brands and 419 Robert Lane (Fam Brands, Redfin)
    Fashion entrepreneur Frank Zarabi sells Wallace Neff-designed mansion for $19M
    Fashion entrepreneur Frank Zarabi sells Wallace Neff-designed mansion for $19M
    Spring Place's Christian Toraldo Spring Place in Beverly Hills (Twitter, Spring Place)
    Beverly Hills co-workspace faces sanctions on charges of hard partying
    Beverly Hills co-workspace faces sanctions on charges of hard partying
     Gary Friedman with 1360 Summitridge (Getty, Aaron Kirman Group)
    RH Chief Gary Friedman sells Beverly Hills estate
    RH Chief Gary Friedman sells Beverly Hills estate
    Alan Salzman with the property (Vantage Point Capital Partners, Hilton & Hyland, iStock)
    Investor Alan Salzman’s Beverly Hills mansion under contract
    Investor Alan Salzman’s Beverly Hills mansion under contract
    Select properties from Redwood Urban (Redwood Urban, iStock)
    Redwood Urban scores refi on Beverly Hills, Hollywood, Long Beach apartments
    Redwood Urban scores refi on Beverly Hills, Hollywood, Long Beach apartments
    arrow_forward_ios

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

    Loading...