Introduction to Beverly Hills Flats Deal
The fast-growing business of Jack Harris and Michael Fahimian is now clocking over $76 million in Beverly Hills Flats deals this year with the duo’s latest closing.
The Beverly Hills Estates agents confirmed the closing of 722 North Maple Drive this past week for $22.4 million, or about $2,571 per square foot. The duo represented a local family in its purchase of the home, while Keller Williams’ Gary Gold was the listing agent.
722 Maple Drive (Beverly Hills Estates)
The off-market deal means Harris and Fahimian are now behind three of the five transactions in the tony Beverly Hills neighborhood that have closed above $20 million this year.
“We have the market cornered,” Fahimian boasted.
The Harris and Fahimian Team
The Harris and Fahimian team made their debut at No. 20 on The Real Deal’s recently released list of Los Angeles County’s top 25 agents and teams, with 18 transactions totaling $200.8 million. The list reflects deals over $1 million recorded in the Multiple Listing Service between July 1, 2024 and July 1, 2025.
“We’re noticing a lot of deals being done off market in the Flats,” Harris said. “We’re also noticing a lot of deals selling fairly close to ask, within 10 percent of the asking price.”
Factors Benefiting the Flats
The two said several factors are at play to benefit the Flats, which gets its name from the largely level terrain and large lots comprising the neighborhood between Sunset and Santa Monica boulevards. Among them are neighborhood’s amenities, including the school district, police and fire services, the two said. More recent events have further fueled the area’s popularity.
Measure United to House L.A., the two-tiered tax that applies to all property sales within the city of Los Angeles, makes Beverly Hills a good alternative for anyone looking to avoid paying the assessment. There’s also the more recent concern around obtaining insurance, especially post-January’s wildfires.
“Another thing that’s huge is the ability to get good insurance in the Flats because it’s out of a fire zone,” Fahimian said. “A lot of the large carriers are still writing insurance policies in the Flats, whereas they are completely out of certain fire zones in Los Angeles and don’t even offer insurance.”
Recent Sales in the Flats
So far in 2025, home sales in the Flats have crept up to as high as $27 million. That’s the highest price so far this year for the neighborhood, with two properties tied for the designation.
Carolwood Estates co-founder and CEO Drew Fenton was the listing agent on the first $27 million deal, which closed in February, at 620 North Beverly Drive. Fahimian and Harris represented the buyer in that transaction, which penciled out to about $2,558 per square foot.
In June, Harris and Compass’ Jessica Pasternak represented the seller, while Harris and Fahimian negotiated on behalf of the buyer for 521 North Canon Drive. The deal was recorded as closing for $27 million, or $1,641 per square foot. However, the buyer paid an additional $1 million for the property’s furniture, according to the duo.
Conclusion
The latest deal by Jack Harris and Michael Fahimian is a testament to their growing influence in the Beverly Hills Flats market. With their expertise and knowledge of the area, they are able to navigate the complex world of luxury real estate and secure top deals for their clients. As the market continues to evolve, it will be interesting to see how Harris and Fahimian adapt and continue to succeed.
FAQs
Q: Who are Jack Harris and Michael Fahimian?
A: Jack Harris and Michael Fahimian are luxury real estate agents who specialize in the Beverly Hills Flats market.
Q: What is the latest deal they have closed?
A: Their latest deal is the sale of 722 North Maple Drive for $22.4 million.
Q: What factors are contributing to the popularity of the Flats?
A: The Flats are benefiting from their amenities, including the school district, police and fire services, as well as their location outside of fire zones, making it easier to obtain insurance.
Q: What is the highest price paid for a property in the Flats this year?
A: The highest price paid for a property in the Flats this year is $27 million, with two properties tied for the designation.
Q: Who represented the buyer in the $27 million deal at 620 North Beverly Drive?
A: Fahimian and Harris represented the buyer in that transaction.
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