In the largest real estate transaction in Beverly Hills in the past five years, a luxury Expensive Home sold for $51.75 million, marking the highest price in the city since 2020.
The deal caught the attention of California’s luxury real estate market and highlighted the growing demand for properties with unique architectural character.
Who is the seller?
The seller is investor Steven Paul and his wife, Nancy Paul.
Steven comes from a prominent steel industry family, as he is a descendant of the founding family of Ampco-Pittsburgh.
In addition to his industrial heritage, Paul is a principal at Laurel Crown Partners, a private equity firm based in Los Angeles.
The Paul family is a limited partner in the Pittsburgh Steelers, the NFL’s national football team, which lends the deal a special character in terms of the sellers’ social and economic standing.
The couple first listed the home for sale in October 2024, with an initial asking price of $62 million, before closing in April 2025 for a final price of $51.75 million.
Who is the buyer?
So far, the buyer’s identity has not been revealed, adding a layer of mystery to the deal.
Speculation has swirled that the buyer may be a prominent international figure or a tech entrepreneur.
Design and Space Details
The approximately 12,300-square-foot, five-bedroom home sits on a 0.85-acre lot in one of Beverly Hills’ most sought-after areas.
After purchasing the property in 2006 for $8.55 million, Paul demolished the old house and hired the late architect Howard Bakken to rebuild the residence.
Bakken is known for designing luxury wineries and distinctive homes in Napa Valley.
Among his notable clients was producer Jeffrey Katzenberg, who sold his Bakken-designed home for $125 million in 2020.
The new home, completed in 2015, features architectural touches inspired by the Napa Valley landscape, using natural wood and stone, and reclaimed-wood ceilings.
A Special Kind of Luxury
The home includes a 1,200-bottle wine cellar and a glass bridge leading to a spacious courtyard.
It also includes a separate guest house that can be used as a pool house.
Interior details include stucco and oak walls, and naturally lit hallways that create a warm and open feel.
The Market Is Reviving… and the Deal Confirms the Trend
This deal comes at a time when the luxury real estate market in Beverly Hills is showing clear signs of recovery.
According to a Miller Samuel report, the number of single-family home sales in the city increased by 70.4% in the fourth quarter of 2024, compared to the same period the previous year.
The median price also increased by 21.1% year-over-year.
What does this deal mean?
The sale of the Paul family home is one of the most significant indicators of the recovery of the luxury real estate market after years of volatility.
It also reaffirms that Beverly Hills remains one of the most sought-after real estate destinations in the United States, thanks to its combination of privacy, luxury, and prime location.
