Investor Alon Abady has made a splash with significant commercial deals, but he’s also expanding his residential holdings.
The Real Deal learned through a record search that Abady is the buyer of a 13,500-square-foot mansion at 1109 Calle Vista Drive in Beverly Hills. He paid $33.2 million, or $2,473 per square foot.
The property was listed for $49.9 million in January 2021. It took a price chop in February 2022 to $42.5 million. The closing price took a 21 percent drop from the listing price when Abady signed papers for the mansion.
Victoria Risko and Jen Puz of Sotheby’s International Realty represented Abady. Risko also represented seller Mitchell Julis, co-founder of investment management firm Canyon Capital Advisors.
Abady made news in 2020 when his holding company, Alon Abady Trust, purchased a 9,600-square-foot home at 717 North Palm Drive in Beverly Hills for $25 million.
The seller was Simon Cowell, the television personality who helped spawn a talent reality show boom with “America’s Got Talent.”
A records search found that Abady remains the owner of 717 North Palm Drive. Ababy’s mansions are located one mile from each other.
In 2021, Abady made one of the Los Angeles area’s biggest hotel deals when he bought the 295-room Sofitel Los Angeles at Beverly Hills for $97.5 million. The investor’s company Abady Holding was the vehicle for the deal. According to the company’s website, it invests in multifamily, retail and office, as well as development opportunities. It has invested in properties such as a condominium building at 1500 Larabee Street in West Hollywood, Cedars Assisted Living at 17300 Roscoe Boulevard in Northridge and the 1 Oak events space at 9039 Sunset Boulevard on the Sunset Strip.
Abady’s plans for 1109 Calle Vista Drive are currently unclear. A request for comment to his financial services company Waterbridge Capital was not returned.
The post Investor Alon Abady buys $33M Beverly Hills mansion appeared first on The Real Deal Los Angeles.
Powered by WPeMatico