The buyer of Rihanna’s Century City penthouse appears to be on a shopping spree, assembling celebrity-owned properties into a growing portfolio.
The LLC buyer of the billionaire businesswoman and pop star’s former condo lists 71 Beverly Park as its business address, state records show. That’s the same address of the 30,500-square-foot Beverly Park mansion previously owned by Mark Wahlberg and his wife Rhea Durham, which sold last February for $55 million.
The unnamed owner of Wahlberg’s former home is reportedly the same buyer behind the off-market acquisition of 2 Coral Ridge in Newport Coast, according to Robb Report. The October 2022 deal, also priced at $55 million and ranked as Orange County’s priciest sale that year, involved the estate previously owned by reality TV stars Terry and Heather Dubrow.
The mystery buyer is tied to Gu Fang, wife of Chinese billionaire Xu Hang, according to Robb Report, citing anonymous sources. Hang’s fortune comes from medical device maker Mindray Medical, which he co-founded.
The buyer scored deals in the case of the Beverly Park mansion, which sold for $32.5 million less than its listing price.
In the case of Rihanna’s former condo, it sold last month for $20.8 million, or $4.2 million less than its original listing price. The music and fashion superstar, born Robyn Rihanna Fenty, listed the condo in March.
The penthouse spans the entire 40th floor of The Century condominium tower at 1 West Century Drive.
The sale is subject to the City of Los Angeles’ Measure ULA, which applies a 5.5 percent transfer tax on sellers of properties that trade for $10 million or more. That equates to $1.1 million in this deal.
Carolwood’s James Harris and David Parnes represented the seller, while Ginger Glass of Compass brokered the deal on behalf of the buyer.
A total of four bedrooms and eight bathrooms make up the 9,300-square-foot condo.
The property touts 10-foot ceilings, floor-to-ceiling glass in the screening room and four terraces offering views ranging from Downtown L.A. to the Pacific Ocean.
Related Companies developed the 42-story condo tower, which counts 140 units on what was once the St. Regis Los Angeles. Robert A.M. Stern Architects served as architect of the 640,000-square-foot property.
Forbes currently estimates Rihanna’s net worth at $1.4 billion. That accounts for revenue generated from Fenty Beauty, which is co-owned with French luxury conglomerate Louis Vuitton Moët Hennessey, in addition to lingerie brand Savage x Fenty among other businesses.
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