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Chart-topping developer snaps up Holmby Hills estate for $12 million

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L.A.-based developer Gala Asher, through a corporate entity, paid about $12 million for the Holmby Hills estate.
(Rodeo Realty)

Gala Asher has found his next project.

The Los Angeles-based developer, who last year sold an estate in Holmby Hills for a record $100 million, has bought another home in the area for $11.999 million.

The boomerang-shaped mid-century house, built in the 1950s, has five bedrooms, five fireplaces and 6.5 bathrooms in nearly 6,000 square feet of interior space. Common rooms include formal living and dining rooms, a family room with a wet bar and an office den. The kitchen, complete with honed limestone countertops and farmhouse sinks, has a west-facing view of the yard.

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Lush landscaping surrounds the swimming pool and pool house in the backyard. Gravel pathways wind through a rose garden, lawn and mature trees. Elsewhere is a detached garage.

The property, set on about an acre of grounds, sold for $4,000 over the asking price of $11.995 million, records show.

Antony Arkel of Rodeo Realty was the listing agent. Ginger Glass of Coldwell Banker Residential Brokerage represented the buyer.

Gala made headlines last October when an estate he developed on Carolwood Drive sold to billionaire and investor Tom Gores for $100 million. The multi-property deal, which saw Gores trade a number of his own real estate holdings for the spec mansion, is tied with the Playboy Mansion sale for the most-expensive single-family home sale in Los Angeles County.

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neal.leitereg@latimes.com

Twitter: @LATHotProperty

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