Though he’s still struggling to unload his Beverly Hills “starter” home — a lovely 1920s Spanish estate that’s lingered on and off the market for over two years — youthful entrepreneur Adam Pritzker has already moved on to greener pastures, quietly purchasing a slightly smaller villa on a good street elsewhere in the Beverly Hills Flats neighborhood. Records show he forked over about $8.5 million for the new digs, in an off-market deal.
Pritzker appears to have a thing for a well-preserved Spanish Revival; like his old house, his new 90210 abode was originally designed in the 1920s and retains many original features — arched doorways, colorful ceramic tile, handcrafted ironwork and the like. There are six bedrooms and seven baths packed into just under 5,400 square feet of living space, on a quarter-acre lot shaded by palms and mature olive trees.
The mini-estate was long owned by Gary and Linda Briskman, she a onetime mayor of Beverly Hills who also happens to be, for what it’s worth, the mother-in-law of fashion designer James Perse. Last October, the Briskmans sold the property in late 2019 to ex-Microsoft VP Chris Peters, who ponied up about $8.1 million for the house but never actually moved into the home. Instead, he quietly flipped it to Pritzker for nearly $8.5 million after only six weeks of ownership, a quick $370,000 profit before taxes, closing costs and any realtor fees.
There’s a gated courtyard area with splashing fountains, and the front door opens into a proper foyer. A step-down living room sports a fireplace and intricate ceiling beams, while the formal dining room offers a dynamite coffered and hand-painted ceiling. The kitchen retains its vintage tile but also sports a new center island and top-of-the-line stainless appliances.
Other estate amenities include a detached one-bedroom guesthouse and two-car garage, a sparkling plunge pool, a spa-style master retreat, and carefully curated gardens filled with leafy palms and other tropical plantings.
Born into vast riches as a billionaire heir, a member of the prominent family that founded Hyatt Hotels, Pritzker has since established himself as a successful businessman in his own right. He co-founded General Assembly, a for-profit private school that was recently sold to the Adecco Group for $413 million. The 35-year-old is also chairman and CEO of the Assembled Brands holding company.
Unfortunately, Pritzker has had been entirely luckless in unloading his first home in Beverly Hills. The lovely Chimorro estate, as it is known, sits elsewhere in the Beverly Hills Flats and packs in just as many original Spanish-style features. Built in 1926 by architect Roy Seldon Price, the home’s original owner was a non-famous woman who used the property as a speakeasy during Prohibition. In the mid-aughts, the property was given a pricey and sensitive remodel, courtesy of acclaimed architectural designers Tichenor & Thorp.
Pritzker paid $12.1 million cash for the house in 2014. The property is currently listed at just $9.998 million, meaning that even in the unlikely event of a full-price offer, Pritzker stands to lose a hefty $2.1 million, not counting those pesky real estate fees and more than five years of maintenance and associated carrying costs.
Eric Lavey of Sotheby’s International Realty holds the listing on the Chimorro estate.