Maybourne Condo Unit Nabs $27M

A condo unit at the Maybourne Beverly Hills sold to the titan of a family-owned food maker and distributor in one of the priciest deals at the ultra-luxe property.

The Real Deal previously reported unit 8E at 225 North Canon Drive went into contract last month, but the buyer and sale price were not known until now.

The four-bed, six-bath unit sold Oct. 10 for $27 million, or $4,762 per square foot, according to the deed.

Ohana Realty Corp.’s Tyrone Phillips and Soren Olsen represented both the buyer and seller in the deal. Calls to Phillips and Olsen were not returned Thursday. An Ohana spokesperson said the company doesn’t comment on ownership and indicated another unit, renovated and fully furnished, had sold at the Maybourne in the past for an even pricier amount.

Still, Zillow records indicate this month’s deal is the most expensive on-market condo trade for the city of Beverly Hills in the trailing 12 months. The $27 million sale also bests a previously reported record set by Stan Kroenke, when the Los Angeles Rams owner paid $23.8 million for a unit in 2021.

October’s sale is also Los Angeles County’s second-priciest recorded condo sale in the past 12 months after a January trade at The Century for $39.1 million, according to Zillow. Penthouse 39 at the Century City luxury high-rise spans 9,420 square feet, making for a purchase price of $4,153 per square foot.

A trust linked to Gustavo Marquez and Maria Esther Marquez made this month’s record-setting Maybourne purchase, according to the deed on the 5,670-square-foot penthouse. The seller was another trust linked to philanthropist couple Paul and Hisako Terasaki. The late Paul Terasaki was an organ transplant researcher, while his wife was an etcher.

Gustavo Marquez is an owner in food products maker and distributor Marquez Brothers International.

San Jose-based Marquez Brothers describes itself as a family-owned business that makes and distributes Hispanic foods under multiple brands. That includes The El Mexicano label of cheeses, creams, meats, yogurts and desserts. There’s also Rancho Grande, San Juan, Autlan, Casero, La Tona, Saborcool, YoGusto and Marquez Family in its fold.

Records in PropertyShark and a Dirt report show in 2021 the Marquez trust paid $11 million, or $3,901 per square foot, for unit 7H. It’s a smaller footprint than the most recent buy at three beds and four baths across 2,820 square feet.

The Maybourne hotel, where a room typically goes for over $1,000 a night, previously operated as the Montage Beverly Hills. The brand changed after the Qatar-backed Maybourne Hotel Group bought it in 2019 for a reported $415 million.