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Less than four months ago, Nicolas Berggruen doled out $63.1 million at auction for L.A.’s storied Hearst Estate — previously known as the Beverly House thanks to its prime locale on North Beverly Drive. Now the Parisian-born billionaire investor has added another property to his real estate portfolio, acquiring the smaller and less flamboyant house next door. Combined, the two separate parcels offer a nearly 4.5-acre compound.

Records show the founder and chairman of the Berggruen Institute — a think-tank geared toward developing ideas and shaping political, economic and social institutions for the 21st century — ponied up an additional $12.3 million for his newly acquired home, which was initially listed with a $15.5 million ask. Like the Hearst Estate, this ancillary property was also owned by one Leonard Ross, and was sold as part Ross’ ongoing bankruptcy proceedings.

Originally built in the 1950s, Berggruen’s latest acquisition features seven bedrooms and eight baths in over 6,300 square feet of monochromatically hued living space. Nestled on almost an acre of land, and mostly hidden away from the street behind two gates and walls topped with high hedges, the decoratively dated Mediterranean-style villa is fronted by a circular driveway, expansive motorcourt and an attached three-car garage — one bay of which looks to have been converted into a small guest suite.

Once inside, a double-height foyer is clad in marble and topped by a crystal chandelier, and displays a staircase tucked away to one side. From there, a spacious family room hosts a corner wet bar, plus a built-in entertainment center and floor-to-ceiling sliding glass doors spilling out to an al fresco dining patio. Around the corner is a light-filled den sporting a massive wood-burning stone fireplace.

Additional highlights include an oversized, wood-paneled living room accented by a fireplace and walls of glass leading outdoors. An all-wood kitchen is outfitted with high-end stainless appliances, and a carpeted primary suite boasts a fireplace and mini-bar area; outdoors, the private and wooded grounds include an expansive grassy lawn holding a freeform pool flanked by a sundeck.

Besides his Beverly Hills compound, Berggruen also owns the legendary Edie Goetz estate in Holmby Hills and the 2.2-acre property next door. His primary residence is West Hollywood’s iconic Sierra Towers building, where he’s spent more than $20 million buying up at least seven different condo units; and he owns a 1920s Spanish Revival-style Hollywood mansion atop the Sunset Strip that houses the current president of the Berggruen institute.

Sally Forster Jones of Compass was the listing agent.

Source Dirt.com

Written by Wendy Bowman