BEVERLY HILLS COURIER | FEBRUARY 17, 2017 Page 10
B E V E R LY H I L L S R E A L E S TAT E
Beverly Hills Home Of Coca-Cola Heir Sold For $25 Million By Matt Lopez Alkiviades “Alki” David, an eccentric Greek entrepreneur, has sold his massive Beverly Hills home for $25 million. The home sold in late January to an unnamed buyer, according to Curbed L.A. The $25 million price tag is not quite the $35 million David was initially asking for. In The entrance to the Summit Drive home. 2015, he famously told The Wall David is the heir to the Coca-Cola bottling Street Journal that nobody “should consider and shipping empire, and also runs several offering anything less” than his $35 million ask- media startup companies. David infamously ing price. once offered $1 million to anyone who would streak in front of President Barack Obama. The 16,000-square foot home features six bedrooms and 11 bathrooms and comes with five fireplaces, a wine cellar, a home theater, a gym and a game room. According to MansionGlobal.com, the home sits on about an acre of land with a large, grassy yard with a swimming pool, hot tub, terraced hedges, a fire pit and an outdoor bar and kitchen area. Both the buyer and seller of the home at 1141 Summit Drive were represented by Marc Noah of Sotheby's A dining hall in the Summit Drive home. International Realty.
499 Airole Way’s land
Divorce Could Put Ownership Of Niami’s Airole Way Megamansion Into Question Could Bel-Air’s controversial $500 million megamansion be in trouble? News that Yvonne, the wife of megamansion developer Nile Niami of Skyline Development, filed for divorce last month has thrown the future of the home into question. The home at 944 Airole Way has run afoul of residents for several years, as many reports have been filed regarding violations of hauling from dump trucks carrying soil to and from the project. The massive project has also caused severe traffic problems for the surrounding streets. Originally planned at 85,000 square feet, the home is now scheduled to be 104,000 square feet, putting it at almost double the size of the White House. The Real Deal first reported last week of the divorce of the Niami’s, who had been married for 18 years before separating two years ago.
Divorce filings cite irreconcilable differences as the reason for the split. Sources told The Real Deal that the divorce could throw the ownership of the infamous Airole Way home into question, depending on how the couple’s assets are divided and if a prenuptial agreement exists. “I’d be surprised if there wasn’t a prenuptial agreement,” Daniel Jaffe of Beverly Hills law firm Jaffe and Clemens told The Real Deal. “That completely changes things.” According to The Real Deal, Hilton & Hyland’s Drew Fenton is the home’s listing agent, and plans are to list the home for $500 million, although it has not yet officially hit the market. Yvonne purchased an eight-bedroom, 11,500 squarefoot home in Bel-Air for $16.2 million in November, The Real Deal reported.
Report: New US Home Construction Slows In January
9540 Oak Pass Road.
Photo by MLS
Jessica Alba Purchases Beverly Hills Home From Hollywood Exec For Around $10 Million Jessica Alba purchased a Hamptons-esque Beverly Hills home owned by Hollywood executive Mike Medavoy, www.realtor.com reported last week. The home at 9540 Oak Pass Road was purchased for just under $10 million, according real estate gossip blogger Yolanda (www.yolandaslittleblackbook).
The seven bedroom, nine bathroom, 8,829-square foot home was built in 2005 and features ocean and canyon views on two acres of land. The home includes a detached guesthouse and a pavilion with a kitchen, pool and spa. The home’s interior includes a two-story foyer, a family room with a full bar and a master suite with a fireplace
and terrace. Realtor.com reported the home was first listed by Medavoy for $15 million in 2015 and reduced to $13 million in November 2015. Alba, 35, is the star of Dark Angel, Fantastic Four and Good Luck Chuck and is cofounder of The Honest Company, which emphasizes non-toxic household products.
Construction begun on new housing fell slightly in January, driven by sharp declines in building in the US West and Midwest, the Commerce Department reported Thursday. The slowdown last month was magnified by an upward revision to December's already strong construction pace. But a second consecutive increase in permits for new home building indicates construction is poised to rebound. Housing starts fell 2.6 percent in January to an annual rate of 1.25 million units, with construction in the western United States plunging 41.3 percent and in the Midwest falling 17.9 percent. Analysts were expecting a bigger slowdown to 1.22 million units. Compared to January 2016, however, the upward
trend persisted, with building up 10.5 percent. Construction started on single-family homes rose nearly two percent in the month, while buildings with multiple units dropped eight percent, continuing the recent trend of month-to-month swings Ian Shepherdson, chief economist at Pantheon Macroeconomics, said the recent trend for single-family units had been upwards for permits and starts, but he wondered if it was sustainable. The trend in housing construction has been more towards apartment buildings for rentals, as younger people hold off on buying property, and the pace is up 26 percent from a year ago, while building of single-family homes is up just six percent. – Agence France Presse