Dirt: Byron Allen Pays $32M for Side-by-Side Homes in Beverly Hills
Two multimillion-dollar homes in one of Beverly Hills’ most desirable neighborhood pockets have simultaneously been scooped up off the market. Records show both properties were jointly acquired by Byron Allen; and the purchase comes soon after the former-comedian-turned-media mogul secured more than $80 million in financing to construct a 24,000-square-foot megamansion just down the street, adding to a collection of luxury residences in New York, Aspen and Maui.
According to The Real Deal, the founder and CEO of Los Angeles-based Entertainment Studios took out an 18-year, $37.8 million mortgage from Bank of America and landed a $45 million line of credit for his mansion project, which is slated for completion in 2024. He plans to demolish the existing 12,000-square-foot structure, which he’s owned since 2012, on the site to make way for a two-story home boasting an underground theater, a bowling alley, gym and six-car garage.
As for his latest acquisitions, records show Allen plunked down $22.5 million for a sleek contemporary mansion resting atop a Beverly Hills promontory, and then paid another $9.5 million for the more modest and decidedly outdated Tudor-style place right next door. The total living space of both structures tops 10,000 square feet.
The two separate but contiguous parcels cost him $32 million and create a 1.5-acre, fully contiguous compound. Both properties were sold by Canadian tech mogul and former eBay president Jeff Skoll, who has a personal net worth of around $5 billion, per Forbes.
Skoll originally asked $33 million for the two structures earlier this year, and also offered either of the two homes for sale on its own. The modern estate carried a nearly $25 million price tag, while the humbler Tudor abode was seeking just a smidge under $8 million. Skoll had purchased his former homes in two separate transactions: one in early 2005 and the other in 2014, for a joint outlay of $17 million.
Fred Bernstein and Ethan Peskowitz of Westside Estate Agency were the listing agents.
