Westside landlord Neil Shekhte has slimmed down his apartment holdings. Now he’s making cuts on the residential side.
The Bel Air Crest mansion he and his wife Margot Shekhter built traded earlier this month for $15 million. A Delaware-based LLC, managed by Margot, officially sold the estate, according to property and state records.
Herbert Boeckmann III, son of late Galpin Ford owner Bert Boeckmann, and his wife Mary Boeckmann are the buyers, according to property records.
Josh Altman and Matt Altman of Douglas Elliman’s The Altman Brothers Team had the listing. Sotheby’s International Realty’s Brett Kester represented the buyer.
The home, located at 2156 West Stratford Circle, originally hit the market about a year ago with an asking price just under $27 million before a series of price reductions.
The Mediterranean-style home sits within the gated Bel Air Crest community and counts eight beds and 13 baths across 15,578 square feet. It has an elevator, courtyards, library, wine cellar and garage with enough space for 16 cars, according to the listing.
The Shekhters began building the Stratford Circle home in 2005, living in the property they owned next door while the work was done.
The couple in 2008 sued All Powerful Plumbing & Heating and insurance company American International Group with separate complaints filed in Los Angeles Superior Court. The Shekhters alleged the plumbing system’s failure in the home led to water damage. They then alleged in their lawsuit AIG “grossly lowballed” their insurance claim and “unreasonably delayed” resolving the matter, making the home uninhabitable and ultimately delaying their sale of the neighboring Stratford Circle residence. Settlements were ultimately reached in both cases.
Neil Shekhter has made news this year as the once prolific Westside landlord’s apartment holdings have shrunk.
His WS Communities’ portfolio was more than halved in January as he handed the keys to lenders to stave off foreclosures. In May, WS hired JLL to market 11 Santa Monica apartment buildings, representing more than a third of the company’s portfolio at that point.
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Galpin Motors, parent of Galpin Ford, owns 10 dealerships in the San Fernando Valley. The business is run by Herbert Boeckmann III’s younger brother Beau Boeckmann, who appeared on the television shows “Pimp My Ride” and “Jay Leno’s Garage.” Company founder Bert Boeckmann passed away in 2023 at the age of 92.