“The market went up since it was last listed. Bacal said that the property was previously delisted to qualify for a 1031 exchange requirement, and it was rented out for a year for nearly $100,000 per month. Revel Real Estate’s Ben Bacal and Douglas Elliman’s Josh Altman are the brokers in charge of the listing.
The property also has a fitness center next to the master bedroom and a swimming pool. The mansion contains features such as a six-foot Moooi chandelier, a private elevator with custom bank vault doors, a 600-bottle wine cellar and a home theater. Capital Square 1031, a leading sponsor of Delaware statutory trust (DST) offerings for Section 1031 exchange and other accredited investors, announced today the acquisition of One Riverside, a 280. Each decision was made to delight the buyer who will live in this house for a lifetime.” “My goal wasn’t to impress a buyer walking through for an hour. “This is a family home, not just a party house,” Park said in a 2016 press release. Park, who headed brands such as Sugarlips, Pure Sugar and Jonesy, built the mansion with Samuel and Paul Oh, and architect Magdalena Glen-Schieneman. The seven-bed, eleven-bath mansion was previously announced as Park’s first project in home design. Ownership of the home has since been transferred to an entity called Lago Vista, LLC, which Park also controls. Park bought the property in 2013 for $4.2 million, records show. The property has now resurfaced with a more modest price tag of $32 million -and no mention of the Warhol - after being taken off the market for nearly a year, according to a listing on Zillow. The 12,800-square-foot home, at 1231 Lago Vista Drive, was first listed in 2016 at a $43.9 million price that included over-the-top details such as an original Andy Warhol artwork in the front entryway and more than $1 million worth of furnishings. 1231 Lago Vista Dr, Beverly Hills (Zillow)įashion designer Charles Park has relisted a Beverly Hills mansion that he designed himself.