Restoration Hardware CEO Gary Friedman Sells Partially Constructed LA Mansion for $24M
High in Beverly Hills Proper, a huge deal just went down off-market. Restoration Hardware CEO Gary Friedman reeled in $24 million for a partially constructed home. Depending on how much work the exec put into it, he looks to have made quite a profit on this sale as he purchased the property for $15 million in 2019, according to the LA Times.
And, this isn’t the first time the pricey project has been passed along. Originally created by architectural firm Marmol Radziner in 2013, Dirt.com reports that the structure was “dilapidated and partially-built” when Friedman acquired it from LA Clippers Vice Chairman, Dennis J. Wong. Wong bought it in a similar state as when he sold it the Friedman, so the residence has not been livable anytime recently. Perhaps the new owner will finally finish the manse out so it can reach its full potential.
Once complete, the home is on track to be a modern with ample walls of glass and views all the way to Catalina Island. Of course, the new owner could also tear down the current structure and start over.
It’s not every day a total fixer-upper or teardown sells for $24 million, but Friedman pulled it off. Weston Littlefield and Alex Howe of Aaron Kirman Group at Compass represented him in the sale, and Littlefield also repped the buyer.