Peter Steinlauf, chairman of auto guide Edmunds, has sold his house in the Beverly Hills Flats enclave for $23 million. It was listed for nearly $30 million in October.
Rayni Williams and Branden Williams of The Beverly Hills Estates listed the house at 809 North Alpine Drive. Zach Goldsmith of The Agency represented a European buyer whom he declined to identify.
While there has been a trend of price reduction across the market, which includes trophy homes, Goldsmith said the ultra-rich are often interested in pressing a deal. This played into the closing price being lower than its most recent ask, which was $25 million.
“They’re only going to buy properties with attractive deals,” he said of ultra wealthy buyers. “At this level, it’s not a need, it’s a want. It’s like a collector’s piece at some point.”
809 North Alpine Drive was built in 1987 and was remodeled in 2022, Goldsmith said. The grounds almost cover an acre. Amenities include a flat lawn, a spa with a waterfall and a tennis court with night-lights. A guest house stands by the tennis courts.
Goldsmith said most of the trophy homes in the exclusive Beverly Hills flats and Alpine Drive neighborhoods are located north of Sunset Boulevard. North of Sunset listings include recently sold homes such as 930 North Alpine Drive, an 11,900-square-foot listing which sold for $37 million in November. Another North of Sunset home was 1109 Calle Vista Drive, an 11,200-square-foot home which sold for $33.2 million in August.
Read more
