facebook
Traded Co logo
Submit
Daily limit: 0/10

Larry And Joan Flax Sell Beverly Park Mansion In Beverly Hills For $34.4M

Property Image
SOLD
$34,400,000
Linda May
Jade Mills

California

See Similar Deals
Single Family Residence14,239 SF
Sold 08/16/2023
the dealplayerscompscontact
Property Image
SOLD

Larry And Joan Flax Sell Beverly Park Mansion In Beverly Hills For $34.4M

55 Beverly Park Way Beverly Hills, CA 90210, USA

See Similar Deals
Single Family Residence14,239 SF
Sold 08/16/2023
Linda May
Jade Mills
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Single Family Residence
Price Per Square Foot:$2,415
Total Square Footage:14,239 SF
Transaction Type:Sale

A 2.79-acre single-family residence located at 55 Beverly Park Way in the market of Beverly Hills has been sold. The property, spanning approximately 14,239 square feet, was purchased for a total sale price of $34,400,000, with a price per square foot of $2,416.

Summary of transaction details

  • Property Type: Single-Family Residence
  • Address: 55 Beverly Park Way
  • Market: Beverly Hills
  • Acres: 2.79
  • Square Footage: 14,239
  • Sale Price: $34,400,000
  • Price Per Square Foot: $2,416

The sellers of the property were Joan & Larry Flax, who enlisted the services of Jade Mills from Coldwell Banker and Linda May from Carolwood Estates as their brokers in the transaction. The sale of this 14,000-square-foot mansion, situated in the exclusive Beverly Hills Post Office neighborhood, comes amidst a sluggish luxury housing market where other high-profile listings faced significant price cuts prior to closing.

Players

Jade Mills
Coldwell Banker
Jade Mills
21 deals$683.2M volume(310) 285-7508
BROKER
Linda May
Carolwood Estates
Linda May
14 deals$557.5M volume(310) 435-5932
BROKER

Details

SOLD
IMAGE: Jade Mills & Linda May DATE: 08/16/2023 ADDRESS: 55 Beverly Park Way MARKET: Beverly Hills ASSET TYPE: SFR ~ ACRES: 2.79 SELLER: Joan & Larry Flax BROKERS: Jade Mills (@JadeMillsEstates) - Coldwell Banker (@ColdwellBanker); Linda May - (@LindaMayProperties) Carolwood Estates (@CarolwoodRealEstate) SALE PRICE: $34,400,000 SF: 14,239 ~ PPSF: $2,416 NOTE: California Pizza Kitchen co-founder Larry Flax and his wife Joan sold their Beverly Park home for $34.4 million, after listing it for $48.5 million in the exclusive Beverly Hills Post Office neighborhood. The 14,000-square-foot mansion's sale comes amid a sluggish luxury housing market, with other high-profile listings experiencing significant price cuts before closing.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,834,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$122,215.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$163,073.55
Annual Debt Service$1,956,882.60