Former KB Home CEO Bruce Karatz Sells Flats Home for $27M

Former KB Home CEO Bruce Karatz inked a deal to sell his Beverly Hills mansion for $27 million as activity continues in the Flats.

Karatz and his wife, socialite and philanthropist Lilly Tartikoff, sold 620 North Beverly Drive for about 17 percent less than the $32.5 million ask the home had when it went on the market in mid-October.

A limited liability company registered with a Westlake Village address is the buyer, according to property and state records.

The nine-bedroom, eight-bathroom home totals 10,554 square feet. Built in the 1920s, the traditional-style home sits on nearly an acre.

It has a screening room, library, pool house, tennis court, two-bedroom guest house and was renovated by acclaimed architect Paul Williams.

Carolwood Estates’ Drew Fenton listed the property, while The Beverly Hills Estates’ Jack Harris and Michael Fahimian represented the buyer.

The Beverly Drive estate is the latest move in a steady flow of activity in Beverly Hills’ Flats neighborhood.

Last month, the home at 622 North Elm Drive sold for $19.9 million. It was a quick trade with the home on the market for less than a month and purchased by a trust tied to accountant Marc Sniderman and Michael Karlin, a business manager for celebrities and other high-profile clients.

In January TV executive David Salzman sold his former home at 702 North Sierra Drive for $17 million.

Inventory in the Flats has also seen a boost.

Compass’ Josh Flagg listed the Gloria Vanderbilt estate at 719 North Maple Drive for $16.5 million in late January. About two weeks later the home went into contract.

Former supermodel Christina Estrada listed her home at 722 North Maple Drive earlier this month, with an asking price currently at $24 million — $2 million less than the original ask. Hasbro CEO Brian Goldner and his wife Barbara Goldner lopped some off the asking price at 610 North Canon Drive. The couple placed the home on the market for $27 million in December and last month reduced it to $23.5 million.