$100 Million Listings: The Future Of The Luxury Home Market

The Beverly House

Last week real estate history was made when the “unsellable” Fleur de Lys estate in Holmby Hills was sold for a record breaking $102 million dollars IN CASH (hence the record breaking part).  Many in the industry are now speculating as to what this means for the future of the luxury home market.  Well, the $135 million listing of the historic Beverly House might just answer that question for us.  

The Fleur de Lys purchase is not too subtly hinting that the luxury home market is ready for more sales of this degree.  Rightfully so – the owners of the Beverly House, a 3.7 flat acre estate in Beverly Hills, are not hesitating to get in on the action with a $135 million dollar listing.  “We’ve broken that glass ceiling, getting over $100 million,” Stated Jeffrey Hyland who has the Beverly House listing.  Though very similar in location, asking price, and square footage – these two colossal estates differ greatly in pedigree.

Now that the Fleur de Lys has had its 15 minutes of fame, let’s direct our attention to the sheer brilliance that is the Beverly house.

Home of the Week

If $135 million for this H-shaped home seems a bit steep, that’s fine; you can rent it for $600,000/month.  Before you decide to send in your offer, let me take you on a 35,000 ft. overview tour of what the Beverly House has to offer.

If you make it past the two-story gatehouse and up one of the longest private driveways in the area; a royal motor court and heavenly fountain begin to prepare you for what’s to come.  Step through the 50-foot high entry hall to be greeted by 22-foot high arched ceilings, a garden-view bar (that will make you want to drink even if you aren’t thirsty), and a two-story library that can keep even the most educated of visitors busy for a fort-night or three.

beverly 1

Have a lot of friends?  Try filling the 30 bedrooms and 40 bathrooms with them and then see if you want to rethink that statement.  Once, and if,  you’ve managed to fill the rooms, think of 370 more people you can invite over for a little get together on the outdoor terrace that comfortably seats 400.   If former owner William Randolph Hearst could do it, (after he left his Castle in San Simeon to live out the remainder of his life here), I’m sure you can too.

  If you get bored in the library – head over to the billiard room, light a fire in the giant stone fireplace imported from Hearst’s castle, and get your hustle on (just don’t scuff the original herringbone parquet floors!).  Throughout the mansion, floor to ceiling windows offer panoramic views of picturesque gardens, flaunting waterfalls that empty into a Venetian columned pool fit for Zeus.  I’m not sure if Zeus played tennis – but if he did, the Beverly House would have had him covered as well.

beverly 3

When it’s all said and done, yes, the Beverly house is truly a work of art – JFK thought so, which is why he honeymooned here in 1953.  Though, does it have what it takes to sell for $135 million, let alone above the record breaking $102 million that the Fleur de Lys went for? Who knows – BUT, if there ever was a time for it to happen, now is that time.  Make sure to keep an eye out for more mega-mansions like these two hitting the market above the $100 Million mark.

 

About Mitchell Maseredjian

Since graduating from Cal Poly San Luis Obispo in 2012, Mitchell Maseredjian spent his time in the digital video industry specializing in business development. His fascination with the real estate industry eventually brought him to JohnHart Real Estate where he currently stands as the Director of Marketing and contributor to the Gazette.