A stately 1920s Spanish Colonial Revival on one of Westside L.A.’s most coveted streets has sold for the first time in over six decades to Daniel H. Stern. Tucked away in a tree-shaded Santa Monica neighborhood overlooking the Riviera Country Club golf course and mountains beyond, the residence cost the New York-based investor a still-hefty $14.3 million, though that’s a whopping $5.4 million discount off the original list price.
A Harvard grad, Stern is best known as co-founder and co-CEO of Reservoir Capital Group, an investment management firm that specifically targets opportunities in public and private equity and debt markets. He also serves on the board of Harvard’s Defeating Malaria initiative. His newly acquired luxury home is one of at least three that he and wife Nanna now own — the first being a 13-room Fifth Avenue duplex apartment the couple picked up from philanthropist Samuel P. Peabody in 2011 for around $15 million, the second a $7 million contemporary mansion elsewhere in Santa Monica.
As for the latest addition to Stern’s real estate portfolio, the creamy stucco and terracotta-roof structure was built and designed in 1926 by the L.A. architect firm Gable & Wyant, designers of the Beverly Hills Women’s Club. Since updated, the gated property features seven bedrooms and an equal number of baths in just over 5,100 square feet of two-level living space boasting a mix of tile and hardwood floors, arched doorways and high wood-beam ceilings.
Especially standing out on the main level is a formal dining area, plus a fireside living room with a wall of built-in bookshelves and sliding glass doors spilling outside. A vintage kitchen sports a central island and an accompanying breakfast nook with an integrated work station. Elsewhere on this floor is a playroom/office and an ensuite bedroom.
A striking curving staircase heads upstairs, where six bedrooms include a spacious master retreat adorned with a fireplace, private balcony and walk-in closet. Outdoors, the half-acre-plus grounds host most of the amenities out front — as the backyard is lined by the Riviera links — including a fenced pool and spa flanked by a pool/guest house with a kitchenette, along with brick-clad terraces and an attached two-car garage.