Introduction to Rick Caruso’s Former Beverly Hills Home
A Beverly Hills estate once owned by Los Angeles developer and former mayoral candidate Rick Caruso was the most-expensive home sale in the country last month.
Caruso’s former home, at 912 Benedict Canyon Drive, sold for $47.5 million, Westside Today reported. It was the only California property among the 10 priciest homes last month, which included four sales in Florida between $28 million and $36 million, and a Greenwich, Connecticut, home that sold for $43.5 million.
Home Features and Sale Details
The Benedict Canyon home sold for $2,793 per square foot. It hit the market in 2023 for $72.5 million. It was listed in January for $56.9 million. The buyer was an entity known as Murray Hill Real Estate. Caruso bought the home via RFG-Lavender LLC in 2018 for $16.7 million, or $982 per square foot.
The property spans more than 17,000 square feet and features a 130-foot-long driveway, six-car garage, elevator, library and theater. The primary suite is 2,000 square feet and has its own living room and 900-square-foot balcony. Outside, there is a cabana, kitchen, pool, spa and tennis court.
Comparison to Other Sales
The sale marks the third-largest on-market sale by closing price in Beverly Hills so far this year. The top spot belongs to 1028 Ridgedale Drive, a 12-bedroom, 18-bathroom estate that sold in April for $60 million. That was followed by the sale of the 12,000-square-foot property at 942 North Alpine Drive that same month for $51.8 million.
Though the $47.5 million trade was the country’s most expensive sale in August, it didn’t come close to the nation’s top deals so far this year. In the Los Angeles area, this year’s high-ticket sales include $110 million sales on South Mapleton Drive in Holmby Hills and Nimes Road in Bel Air and an $80 million trade in Malibu.
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Conclusion
The sale of Rick Caruso’s former Beverly Hills home is a significant transaction in the luxury real estate market. The property’s features and sale details demonstrate the high demand for luxury homes in the area. While it was the most expensive sale in the country last month, it is part of a larger trend of high-end sales in the Los Angeles area.
FAQs
Q: How much did Rick Caruso’s former home sell for?
A: The home sold for $47.5 million.
Q: What are the features of the property?
A: The property spans more than 17,000 square feet and features a 130-foot-long driveway, six-car garage, elevator, library and theater, among other amenities.
Q: How does this sale compare to other sales in the area?
A: The sale marks the third-largest on-market sale by closing price in Beverly Hills so far this year, with other sales in the area including a $60 million sale in April and a $51.8 million sale in the same month.
Q: What is the current state of the luxury real estate market in the Los Angeles area?
A: The area has seen several high-ticket sales this year, including $110 million sales on South Mapleton Drive in Holmby Hills and Nimes Road in Bel Air and an $80 million trade in Malibu.
