Though he already owns property in New York and a multimillion-dollar villa overlooking the turquoise Caribbean waters of Peter Bay in the U.S. Virgin Islands, financier Stephen Deckoff just added another pricey bauble to his real estate portfolio. The managing principal of Black Diamond — an investment firm with $10 billion in assets under management — and wife Pamela have forked over $13.2 million for a posh estate in the mountains above Beverly Hills, this one resting atop a gated promontory offering jetliner views of the entire L.A. Basin.
That purchase price is slightly lower than the home’s original $14.5 million ask, but still significantly above the $9.2 million that Greek shipping heir Paris Latsis paid for the half-acre estate a little over 16 years ago, back in spring 2006. During Latsis’ ownership, the Beverly Crest spread was leased to rapper Sean “Diddy” Combs, who lived there from 2008 to 2013.
The Deckoffs have some very rich new neighbors — their recently acquired house sits directly between the late Paul Allen’s funicular-equipped estate, which recently sold for $45 million to a mystery buyer, and a $29 million mansion recently sold to billionaire tech heiress Sophie Schmidt, who also owns the house across the street.
Built in 2004, the modern three-story structure recently underwent an extensive makeover by L.A.-based interior designer Michael R. Mueller, all while “preserving its original character and iconic design,” per the listing. Five bedrooms and six baths are sprawled across just over 7,000 square feet of inverted-plan living space boasting wide-plank oak floors and walls of glass throughout, plus an elevator and a Crestron smart-home system.
A marble-walled courtyard bolstered by an olive tree-shaded water feature connects to a glassy front door secured with keyless entry. The spacious foyer is topped by a skylight and displays a spiral staircase adorned with a Chihuly chandelier. Upstairs, a sumptuous master retreat comes complete with a fireside sitting area, private balcony, designer showroom closet, and luxe bath.
Elsewhere is a massive great room with a fireplace and wet bar, which connects to a separate dining area and a tucked-away kitchen outfitted with dual islands, professional-grade Wolf and Gaggenau appliances, and a breakfast nook. There’s also a sunken fireside living room that flows out to a resort-like backyard hosting an infinity pool and spa nestled alongside a turf-clad sundeck, plus a barbecue station.
Both sides of the deal were repped by Aleks Lipovic and Aaron Kirman of Compass.