Highest Priced Residential Listing in California Hits Market at $135,000,000
Beverly Hills, CA (PRWEB) April 04, 2014 -- The Legendary Beverly House Compound returns to the market with a price of $135,000,000, announced Jeff Hyland of the luxury real estate firm, Hilton & Hyland. The decision to list the esteemed property follows the recent $102,000,000 sale of Fleur de Lys in nearby Holmby Hills.
The Beverly House Compound is undoubtedly one of the most unique, one-of-a-kind, trophy Estate properties in the United States. The Beverly House Compound, grandiose and palatial, consists of approximately six acres of landscaped flat land, on which there are seven separate structures, two of which are on adjacent separate legal parcels, and contains 30 bedrooms and 40 bathrooms. The Beverly House itself sits on its own promontory in Beverly Hills, California, comprises over 50,000 square feet of structures, and offers extreme privacy and security with four security gates and several perimeter housing structures.
“With the influx of foreign capital into the United States by investors seeking prime investments and assets," said Leonard Ross, owner of The Beverly House, "and considering the current world economic and political situation, the price for The Beverly House Compound is realistic, if not low. I expect values to rise, especially of unique, one-of-a-kind, trophy properties such as The Beverly House Compound. The Beverly House represents a good investment and business opportunity, as well as, quite importantly in this day and age, asset diversification”.
The legendary property, which commands the highest lease amount in the U.S. at $600,000 per month, and has been the venue to some of the most exclusive events and galas in the world, continues to be available for lease for events as well as on a full property basis, as has been done over the past few years for prominent Events and to clientele from around the world.
“The provenance of The Beverly House is unparalleled," said Jeff Hyland. "It is the former Estate of world-renowned newspaper magnate William Randolph Hearst and the famed actress, Marion Davies, and it is well-known for its memorable scenes in the movies 'The Godfather' and 'The Bodyguard'. It is truly a part of American legend with Jacqueline and John F. Kennedy having spent part of their honeymoon at The Beverly House."
With some of these recent mega-sales, the glass ceiling on prices has been broken and people are having more confidence that Beverly Hills is arguably in the same league as such markets as the Hamptons and London.”
The Estate is famed for its H-form architecture, characterized by long colonnades, wide balconies, arched floor-to-ceiling windows, and its spaciousness – the terrace alone can host gatherings of hundreds of guests, a stunning two-story library with hand-carved paneling and a wrap-around walkway, a formal living room with its 22 foot high, hand painted, arched ceiling, a state of the art spa, and a billiards room with herringbone parquet floors and an intricately designed ceiling and carved fireplace, both from the Hearst Castle in San Simeon.
The gardens, by landscape architect Paul Thiene, who has designed many of the famed estates in Beverly Hills, include cascading waterfalls to the pool as well as impressive mature trees. The Beverly House has more to offer than its generous scale, however. Gordon Kaufmann, the famed architect behind some of the most important estates in the Beverly Hills area, was commissioned to create this legendary property, which today stands as an emblem to Hollywood’s golden area.
Perfectly secluded, The Beverly House is only three blocks from Sunset Boulevard and the Beverly Hills Hotel. It is a true legendary estate.
Mila Salahuddin, PMBC Group, +1 (310) 777-7546, [email protected]
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