With real estate perhaps finally at the peak of a decade-plus-long bull market, coupled with the looming threat of a potential recession, biotech entrepreneur Roy Eddleman has decided to try his luck at flipping his beast of a 90210 mansion. Located behind the guarded gates of the exclusive Beverly Park North community, the property’s $120 million asking price makes it the sixth-most-expensive residential listing in the Los Angeles area.
Eddleman bought the house at public auction last April, paying a deeply discounted $51 million. The estate was built over several years and completed in the late ’90s by Hungarian-American billionaire Steve Udvar-Hazy and his wife Christine, who long occupied the house with their large family and originally wanted as much as $165 million for the place, back in 2018, before a buyer finally came calling.
Since then, Eddleman has reportedly lived alone in the house — save for the staff required to maintain an estate of this stature — where he enjoys 12 bedrooms and 16 bathrooms in more than 31,000 square feet, per the listing. Situated on nearly 10 acres of land, the property is undoubtedly one of the grandest in all of Beverly Park, often referred to as L.A.’s most prestigious gated community.
Behind driveway gates and towering trees, the vast compound includes a Tuscan villa-style main mansion with staff quarters, five ensuite “family” bedrooms and a master suite with dual baths, dual dressing rooms and dual private offices. There’s a separate guesthouse with two more bedrooms and its own kitchen, plus a “pool compound” consisting of a cabana and a two-bedroom pool house. Also on tap are sprawling lawns, formal gardens, multiple motorcourts, a “practice soccer field” and basketball and tennis courts, per the listing.
For all that, a buyer will pay dearly. In addition to the $120 million asking price — equivalent to well north of $1.3 million in annual property taxes — the new owner will shell out hefty HOA dues of $12,240/month. For the mathematically disinclined, that’s $146,880 in annual HOA fees alone — more than double the average American’s yearly income.
Those dues help pay for varied amenities, including the maintenance of Beverly Park’s rarely-used communal park, the 24/7 guards stationed at Beverly Park North’s two entrances, regular security patrols, and a gun-toting new armed guard who also roams the community. According to people familiar with the matter, the HOA recently approved the construction of a mansion-sized contemporary gatehouse to replace the existing gatehouse at the community’s main entrance off Mulholland Drive.
Time will tell whether someone is willing to pay Eddleman more than double what he did for an essentially unchanged property, but it’s worth noting that the Beverly Park market is on a proverbial hot streak. Adele paid a whopping $58 million for Sylvester Stallone’s custom Beverly Park home, a record that was broken just a month later by Hong Kong billionaire Hao Tang, who dropped $70 million on Alec Gores’ mammoth Beverly Park digs. For the record, both those estate enjoy significantly less acreage than Villa Firenze.
Richard Klug at Sotheby’s International Realty holds the listing.
