Furniture mogul Gary Friedman obtain $24 million for half-built manor in Beverly Hills

Gary Friedman, chief executive of the premium furnishings store RH, just quietly offered his half-built house in Beverly Hills for $24 million.

The off-market offer highlights the increasing value of land in wealthy pockets of L.A. given that the pandemic. Records reveal Friedman got the property in its half-finished state for $15 million in 2019, so the sale brings a profit of $9 million.

Also in its uninhabitable state, it's not a surprise the home brought such a ton of money. It sits at the end of a cul-de-sac and spans 2.8 acres-- a rare quantity of land for the neighborhood.


The inside. (Aaron Kirman Team)


Aerial view of the house. (Aaron Kirman Group)


The four-story home. (Aaron Kirman Team)


The hill residence. (Aaron Kirman Team)

Your house was initially built in 2013 by Marmol Radziner, an L.A.-based architecture firm recognized for its modern styles as well as remediation job, including the 2007 reconstruction of Richard Neutra's Kaufmann Desert Residence in Hand Springs.

The mansion spans four stories and also absorbs views from Downtown L.A. to the sea. Its streamlined, sharp exterior is still intact, but the living spaces have been hollowed out and also boarded up. It was being marketed as either a tear-down or improvement project.

Friedman serves as chief executive officer and chairman of RH, which was formerly referred to as Remediation Hardware. The California-based company had $3.76 billion in income in 2015, as well as Forbes places Friedman's total assets at $2.2 billion.

Weston Littlefield as well as Alex Howe of the Aaron Kirman Group at Compass held the listing. Littlefield likewise stood for the buyer.