Despite years of also-ran status in the Los Angeles mansion game, it seems like the guard-gated community of Beverly Park is back in fashion — and in a big way, appropriately. Famous for its collection of steroidal mega-mansions and celebrity residents, Beverly Park has some of Southern California’s largest homes within its gates, but the enclave has suffered from slow sales and stagnant prices for well over a decade.
But no more. Before last year, none of Beverly Park’s 75 (or so) homes had ever sold for more than $40 million. But then the so-called Villa Firenze transferred for $51 million at auction; last month, Adele paid a whopping $58 million for Sylvester Stallone’s very custom Beverly Park mansion. Now, barely three weeks later, that Adele record has been shattered. Leveraged buyout kingpin Alec Gores has sold his custom-built Beverly Park whopper for exactly $70 million, in what appears to have been an all-cash deal. The Wall Street Journal first reported the big transaction.
Though Gores’ Beverly Park home was never available on the open market, it had been floated a few years back as a pocket listing, asking $95 million. With no takers, the massive house was subsequently given a complete renovation that transformed the Old World-style interiors into something much more clean-lined and generically contemporary, with loads of white and gray paint throughout. The place was then put back up for grabs, reportedly with the same $95 million ask.
Word on the hallowed Beverly Park streets is that our spendy buyer is a “mysterious Hong Kong businessman.” A careful records examination reveals plenty of clues that indicate the mystery man in question is Mainland China-born, Hong Kong-based gaming tycoon Hao Tang, a shadowy figure who has gained attention in recent years for his lavish spending.
In 2017, Tang reportedly dropped about $300 million to buy a big chunk of what is now Flutter Entertainment, the world’s largest online gambling…