R

Robert Flaxman, Embroiled in College Admissions Scandal, Buys Neighboring $11 Million Mansion

location: Beverly Hills, Calif.
price: $11.23 million
size: 5,573 square feet, 3 beds, 5 baths

Though he’s facing a slew of charges and up to 20 years in prison for his role in the highly-publicized college admission scandal, bigshot real estate developer Robert Flaxman isn’t letting any pesky legal woes dog his real estate game. Just last week, records reveal, he tossed down a hefty $11.23 million for his next door neighbor’s house in prime Beverly Hills.

But Flaxman has never been one to shy from attention. The flamboyant Crown Realty & Development CEO, who was formerly engaged to ex-Playboy Playmate Kristen Nicole and owns not one but two Rolls Royces that he uses as daily drivers, has long been famous among a certain segment of Angelenos for his mansion pool parties, which are frequently attended by an assemblage of scantily-clad young women. Known as “Robert Emerald” to his younger friends, the name he continues to use on social media, Flaxman enjoys an extravagantly spendy lifestyle.

That spending extends to his personal real estate collection. Two summers ago, the 63-year-old developer dropped just over $12 million to acquire a Regency-style villa in Beverly Hills, on a quiet cul-de-sac north of Sunset Boulevard. As seen in gallery images, the renovated 1970 structure features a windowless red brick front facade, neutral interior decor, and all the requisite modern luxury amenities — a swimming pool, multiple fireplaces and an eat-in kitchen with fancy appliances — in just over 5,500 square feet of living space. Flaxman has since made the property his main residence.

The $11.23 million house next door was never on the market, so no interior photos are available, but records show the low-slung midcentury modern last sold over 30 years ago, underwent an extensive remodel in the 1980s and also contains just over 5,500 square feet of multi-winged living space. There are three bedrooms, five bathrooms, detached garaging for three vehicles, a wee guesthouse and a fan-shaped swimming pool.

It’s not yet known for certain what future plans, if any, Flaxman has for his $23.3 million Beverly Hills compound, but it seems likely that a veteran developer such as himself will want to maximize the property’s value by uniting the two parcels that comprise his 1.65-acre property into a single, cohesive estate. The easiest way to do that, of course, is by demolishing both structures and starting afresh with a single megamansion. And since neither existing house is of particular historic architectural significance, it would seem that route — should he choose to pursue it — is open to him.

Also worth noting is that Flaxman now owns two of the three homes that comprise his wee cul-de-sac. Should he buy the third property — which is significantly smaller and less valuable than the two he already possesses — he may be able to create his own private gated street, a very rare opportunity in Beverly Hills. And this is indeed prime real estate; his compound is located just a stone’s throw from trendy Trousdale Estates and happens to sit immediately adjacent to the historic Greystone Mansion and directly below The Knoll, the $100+ million megamansion owned by Harbor Freight Tools billionaire Eric Smidt.

And in addition to his $23 million Beverly Hills compound, Flaxman — who has pled guilty to charges he paid a total of $325,000 to help his daughter cheat on the ACTs and secure his son’s admission to the University of San Diego — continues to maintain a multimillion dollar Laguna Beach, Calif. getaway located inside the prestigious Emerald Bay guard-gated enclave.

CategoriesReal Estate

Leave a Reply

Your email address will not be published. Required fields are marked *