Paul Marciano, co-founder of the Guess clothing brand, has bought a condominium in Beverly Hills for $1.85 million. The purchase was made through an annuity trust for a family member, real estate records show.
The corner-unit residence is in an upscale building just minutes from Wilshire Boulevard. Marrying timeless and contemporary details, the condo features dark plank-style flooring, high ceilings and sets of arched-top French doors. A private balcony sits off the master suite and centers on tree-top and city views.
Some 1,753 square feet of open-plan interior includes a living room with a fireplace, a dining room and an updated kitchen with a breakfast bar. There are two bedrooms and three bathrooms in all.
A concierge service, a gym and security are among building perks. Two covered parking spots were also included in the deal.
The property previously sold four years ago for $1.85 million, real estate records show. Dustin Nicholas of Nicholas Property Group handled the recent sale.
Marciano co-founded the denim powerhouse Guess Jeans with his brothers in 1981. He stepped down from his position as chief executive of the fashion firm three years ago.
The Moroccan-born fashion executive has been in buy and sell mode of late. Last year, he sold his estate in Beverly Hills for $18.25 million in a deal completed off-market, and in January bought a condo in West Hollywood for $1.36 million.