Yet another sky-high residential transaction has been recorded in one of L.A.’s tonier zip codes. This time, a brand-new house tucked into the mountains above Beverly Hills — in an area of Los Angeles city known as Beverly Hills Post Office — sold for $37 million to Gary Friedman, the sociable and perma-tanned longtime CEO of RH (formerly Restoration Hardware.) The deal was first reported by the Wall Street Journal.
Built on speculation by former Northrop Grumman CEO Kent Kresa in collaboration with his longtime associate, architectural designer Tim Morrison, the almost perfectly symmetrical mansion “references elements of Hollywood Regency and the great estates of Palm Beach,” per the listing. Privately situated behind gates at the very end of a quiet cul-de-sac, the .78-acre property offers a large motorcourt and a soaring entryway flanked by two thick columns of carved cement blocks that extend from the ground to the roofline.
Soft neutral colors pervade the home’s 11,000 square feet interior space, and warm sunlight dances through the skylit foyer, the dining and living rooms — with their floor-to-ceiling walls of glass — and the midcentury modern-inspired wet bar. There’s also an impossibly sleek gourmet kitchen with chrome and stainless luxury appliances, a gym and an impressive home theater with tiered seating.
The upstairs master suite is tucked away in its own wing and has its own sitting room, dual baths and a private terrace, with jetliner views that sweep over a huge swath of the L.A. basin and the property’s backyard, where there’s an infinity-edged swimming pool and formal gardens.
Friedman’s new $37 million palace lies just two doors away from an even larger compound that was sold back in 2018 for a whopping $41.5 million to Walmart heiress Paige Laurie. And this spread is also just a few minutes’ drive away from Friedman’s former home, an $11.3 million Beverly Hills shack that he sold in 2017 to its current owner, private equity titan Graham Clempson.
As for the now-retired Kresa, he’s long nurtured a real estate investment hobby. Way back in 2007, he sold another Beverly Hills villa for $18.2 million to David and Victoria Beckham. (The Beckhams, incidentally, flipped that house in 2018 for $33 million cash to L.A. Rams owner Stan Kroenke and his wife, multibillionaire Walmart heiress Ann Walton Kroenke.)