Leveraged buyout specialist Alec Gores has sold his 31,000 square-foot French Normandy-style estate in Beverly Park for $70 million.
The private-equity kingpin sold the 11-bedroom, 21-bath mansion at 49 Beverly Park Circle in the gated Beverly Park enclave of Beverly Crest in an all-cash, off-market deal, Dirt.com reported. In 2018, it asked $95 million in a pocket listing.
The buyer was an Irvine-based limited liability company tied to Chi Fai Ben Wong and Hao Tang, a Mainland China-born, Hong Kong-based gaming tycoon.
Jade Mills of Coldwell Banker Realty and Samira Gores, Christine Martin and Tiffany Martin of the Agency held the listing.
The French chateau-inspired manse was designed for Gores in 2007 by West Los Angeles-based architect Richard Landry, who has a number of other clients in Beverly Park.
Though the off-market listing indicated the place includes 40,000 square feet of living space, public records put the number at 31,300 square feet, a discrepancy that could be attributed to a two-story guesthouse.
It is among the largest homes in Beverly Park, in any case, and sits on 2.2 acres surrounded by mature trees, with a cobblestone drive up to a motor court lined with olive trees and a manicured rose garden.
The home comes with features befitting a Norman castle: a living room with an antique limestone fireplace; a wood-paneled library with hand-painted ceilings; French doors leading to a garden terrace; and a formal dining room with hand-laid French oak herringbone floors. There’s also a wine cellar, a gym and a home office.
The exclusive Beverly Park neighborhood, ranked as the richest neighborhood in Los Angeles County, is home to such celebrities as Denzel Washington, Eddie Murphy, Mark Wahlberg and Rod Stewart.
Last April, Dwayne “The Rock” Johnson paid $27.8 million for a 15,000-square-foot Mediterranean-style mansion on four acres. In February, the 11-bedroom home of a late Saudi billionaire sold for $25 million. This month, a 2.9-acre vacant lot listed for $10 million.
The Israel-born Gores is worth $2.7 billion, according to Forbes. The founder of private equity firm The Gores Group has struck deals involving such companies as Twinkie-maker Hostess Brands, according to the Wall Street Journal. About a decade ago, he popularized the use of
SPACs, or special-purpose acquisition companies.
Gores and his wife, Kelly Noonan-Gores, are looking to downsize, perhaps to a new house they are building on Beverly Hills’ Tower Road, according to Dirt.com. The couple still owns several other 90210 homes, plus an oceanfront Malibu mansion and a vacation estate in Michigan.
[Wall Street Journal, Dirt] – Dana Bartholomew
Read more
Development
Los Angeles
Undeveloped plot in Beverly Park lists for $10M per acre
Residential
Los Angeles
Big trim on late Saudi billionaire’s Beverly Hills mansion