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Infamously known as the original Beverly Hills, Hancock Park had a vacant lot for at least two years. The long neglected and graffiti-covered project was the stalled development of Robert Quigg. Quigg fled the country with his mistress in late 2016 leaving behind large debts and numerous unfinished home projects in the Hancock Park area.

The abandoned property was resold in bankruptcy proceedings in early 2018 to Onward Capital LLC, a real estate development company managed by Michael Shlomof of the wealthy Beverly Hills-based family. Shlomof ultimately developed the three-story, 14,000 square feet spec mansion.

The property was listed in July and sold in only three months for $13.75 million, the second-biggest transaction in Hancock Park history. The first being the Isidor Eisner estate selling for $16 million to Netflix’s Ted Sarandos by divorced couple Melanie Griffith and Antonio Banderas in 2015. The almost $14 million cash buyer of the property is Matthew Katz, the founder and CEO of Verifi, a management and payment protection firm sold to Visa for an unknown amount earlier this year.

Katz’s new Italian-style villa sits behind high decorative fences and lawns with hedges. The wooden front door opens into the foyer with a balcony and skylight. To the left of the foyer is a dining room with paneled walls, and to the right is a living room with fireplace. Both rooms feature glass French doors that lead out to the front gardens. Beyond the living room is a study with glossy near-black painted walls, and past the study is a music room/conservatory with glass walls looking out to the backyard. The dining room is connected to a butler’s pantry that leads to the gourmet kitchen featuring marble backsplashes and countertops. The kitchen has a breakfast nook and appliances from Wolf as well as SubZero. The kitchen is open to the family room that has a marble fireplace and foldaway glass doors leading out the gardens.

The 2,000 square feet master suite has its own private wing with a sitting area, brick fireplace, his/her marble baths and dressing rooms. More family bedrooms are housed upstairs that have their own ensuite bathrooms, walk-in closets and private balconies.

The house’s semi-subterranean lower level has a second living room with walls of glass that view an outdoor greenhouse-style garden. Amenities of the property include storage space, a long marble-topped wet bar, glass walk-in wine closet, an 18-seat soundproof movie theater, a mirror-walled gym, massage room, an indoor pool with wellness center, steam shower, sauna and two more guest bedroom suites. The .46-acre backyard includes a negative-edge pool/spa combo, outdoor kitchen/BBQ area, cabana with outdoor fireplace, plenty of patio space and a two-car showcase garage.

The developer, Michael Shlomof of Onward Capital, held the listing and Roger Perry of Rodeo Realty represented Katz in the sale.

Source: Dirt

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