A completely rebuilt estate on a prime residential street near the Beverly Hills Hotel has sold for about $24 million.
Seller Kurt Rappaport, co-founder of Beverly Hills-based Westside Estate Agency, took a combination of cash and a house in the flats of Beverly Hills in trade in the transaction. The highest residential sales price in the city of Beverly Hills so far this year, it is the city's largest since he sold his last home to Tom Cruise in 2007 for $30.5 million.
The traditional-style house Rappaport just sold was designed by Waldo Fernandez, sits on nearly three-quarters of an acre and includes eight bedrooms and 9 1/2 bathrooms in 15,000 square feet.
It has a two-story entry and a two-story dining room, a paneled library/billiard room, a bar, a theater, a wine cellar, a gym and an eat-in kitchen with a large center island. There are flat lawns, mature trees, gardens, an expansive motorcourt, a guesthouse and an infinity pool.
Rappaport had the listing on the house, which he put on the market in February at $28.5 million but withdrew late last summer, according to the Multiple Listing Service. He paid about $13.2 million for the property in 2008.