Even though he already owns two other sumptuous Beverly Hills estates, one a $12.4 million mansion originally acquired from Dr. Phil and the other a $35 million compound bought barely two months ago, prominent local businessman Frank Zarabi has added a third 90210 property to his portfolio — shelling out $19 million for a Nile Niami-designed home in the “Flats” neighborhood pocket of Beverly Hills.
Zarabi remains best-known as the CEO of FAM Brands, an L.A.-based business that reportedly rakes in hundreds of millions each year by manufacturing and distributing apparel through licensing agreements with a number of the retail market’s most popular brands. Founded in 1985, the company’s success has allowed Zarabi, an American citizen born in Iran, to expand into new industries, and he now sports a myriad array of business interests: several car dealerships, hotels, and other lucrative real estate investments.
Built in the ’80s, Zarabi’s latest house was acquired by Niami in 2014 for $11.9 million, after which he gave the tired, vaguely French-esque manor a slick contemporary overhaul. The controversial developer then flipped the property in 2017 to Judith Soeryadjaya, a billionaire Indonesian heiress who paid $15.6 million for the premises; less than two years later, the house was back up for sale with a much-increased $26.5 million ask. (While Zarabi scored a multimillion-dollar discount on the house, the $19 million he paid likely still represents a sizable profit for Soeryadjaya.)
Sited on a half-acre flat lot, the 9,200-square-foot structure is invisible from the street, cloaked behind enormous hedges and gates. Beyond those fortress-like barricades are a generous motorcourt and front-facing garage, plus a slim front garden.