Back in 2014, Kazakhstani expats Eduard and Marina Ogay paid a whopping $40 million for a mansion in Beverly Park, arguably the most exclusive gated community in Los Angeles. They’ve since done major construction to the place, splitting up the two-parcel estate into two separate properties; both lots were subsequently put up for sale in 2019.
Though the two Beverly Park properties remain available for purchase — last asking a combined $52 million — the Ogays have already downsized to another L.A. home. Last month, they paid just over $10.5 million for an all-new Encino estate that was built on speculation and weighs in at nearly 11,000 square feet of living space. There are six bedrooms and nine bathrooms in the glitzy, unabashedly contemporary structure.
Ogay, a 51-year-old ethnic Korean whose family was forcibly relocated to Kazakhstan during the “ethnic cleansing” of Russia’s Stalinist era, long served as CEO of copper mining giant Kazakhmys, formerly a corporation registered on the London Stock Exchange with over $3 billion in annual revenue. He’s also a close business associate of Vladimir Kim, the multibillionaire mining oligarch who has long ranked as Kazakhstan’s richest man.
Set on a quiet cul-de-sac, atop a knoll behind gates and a tall retaining wall, the Encino mansion is accessed via a long flight of stairs that passes between olive trees on its way to the front door. The listing describes as the main level “awe inspiring,” with glass pocket doors framing vies of the surrounding valley.
In addition to all the standard amenities you’d expect to find — formal living and dining rooms, a butler’s pantry, and a surprisingly austere kitchen with charcoal grey countertops and backsplash, plus top-of-the-line appliances — there are noteworthy features, like honey-hued hardwood floors that also cover the three-level staircase and walls, the latter in a bamboo-like grid layout.
Downstairs, the property includes an eight-car garage, though a portion of that area could also function as a lounge or other “recreation spaces.” Upstairs are four family bedrooms, all of them with lavish ensuite baths. Out back, a flat patch of grass hugs the concrete patio and rectangular swimming pool, and there’s a half-court basketball court for shooting hoops.
Other amenities include a home gym, movie theater, wet bar, along with smart home automation — the property’s lights, cameras, and audio systems can be controlled remotely, a boon for these international buyers — and a high-tech security system.