Beverly Hills, California, is known as a coveted destination for celebrity homebuyers. And while the Los Angeles suburb is filled with properties that sell for many millions of dollars, the ultra-wealthy flock to a neighborhood north of Sunset Boulevard known as “Billionaire’s Row.”
Now, a Mediterranean-style estate along the strip has hit the market, and its broker says it’s well-suited to art lovers looking to get in on the glitz of Beverly Hills.
Known as the Gallery Estate, 1136 Calle Vista Drive is a nearly 8,000-square-foot house with five bedrooms and four bathrooms, according to a listing on CoStar’s Homes.com. The property was listed Tuesday with a $20 million price tag, or an approximately $115,000 monthly payment as calculated by the website.
While the listing includes the typical accoutrements of a luxury house — glass walls, a resort-style pool, views of the Los Angeles skyline, a “summer entrance” — it has a unique bonus: an art gallery.
“It’s really quite a showpiece,” Rochelle Maize of Nourmand & Associates told CoStar News in an interview.
The gallery displays the current owners’ collection, but those pieces won’t come with the property, according to Maize. Instead, the sellers are offering a year of complimentary concierge art service with an accepted full-price offer. Maize said that service would give buyers who don’t have their own collection the opportunity to curate a collection, and even try out different pieces, for a year.
For a property such as the Gallery Estate, the buyer is likely “younger than you would think,” Maize said. “We’ve found probably between the mid-40s to mid-50s.”
“It's not their first home, obviously. They're a little bit more established, and they've started a collection,” she told CoStar. “They want Beverly Hills because of the ... name.”
In addition to the gallery, the property’s location is a big selling point, Maize said. The house sits atop what she described as “Beverly Hills’ most coveted promontory.” Tom Cruise, star of the “Mission Impossible” and “Top Gun” movies, used to live on the same street, she said, and it comes with panoramic views spanning from Century City to the Pacific Ocean.
Maize said she has reached out to local galleries as well as creative partners to get word about the listing out to buyers. And that strategy has already started paying off: Within hours of listing the house, she had three private showings set up with prospective buyers.
“It's like a happy house, a good vibe house,” Maize said.
About That Listing explores how brokers market distinctive properties. Let us know about your unusual listing at news@costar.com.