September 23, 2021

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The San Marino woman ever bought 60 million Beverly Hills houses

5 min read

More than three years after it first hit the market, one of the most infamous spec-mansions on the Los Angeles market – the white elephant in real estate formerly known as Opus – has finally found a buyer. The 2,000-square-foot contemporary summer made global headlines in 2017, when it debuted with a লার 100 million asking price and possibly the all-time racist real estate marketing campaign: a promotional video showing naked women, covered in gold paint, covering the beds together.

Fixed Bring itThe subtle message to sex-damaged technology entrepreneurs and other businesses: Cash on your latest app, sell your company. Buy this house and you will buy a woman’s harem to go for it; Live like a modern Casanova. L.A. A suitable message for the buyer pool, perhaps, but the plan failed.

It’s a change of realtors, multiple price reductions – a final $ 60 million asking – and second, marketing campaigns to sell more to Opus Op doesn’t seem to have officially moved the recorder, according to sources, the deal is all done. And in the appropriate twist of embarrassment, the buyer is female.

The new owner, who runs the Americanized Monica Josephine Yeh but whose legal name is Bin Fen Cheng, hails from the affluent San Gabriel Valley town of San Marino, where he has lived for more than two decades in one of the largest and most populous areas in the neighborhood. Wealth – a place he has custom-built himself.

As part of this, the Opus is nothing but a large and stylish, though crystal-in-the-Saint-Tropez kind of popping-bottle. Success and cash from several of his previous real estate projects – in 2012 Niami paid $ 9.8 million for an acre of property. He quickly dismantled the existing structure and completed his previous residential show to be graded and compared to his previous works, complete with extravagance such as a walk-in champagne refrigerator and a Mediterranean auto museum with a golden Lamborghini. And A golden Rolls Royce, white marble enough to create a foreign power – or a “Miami Vice” villain – Blush Crimson. For all of this, he believed, a buyer would have to pay him something close to িয়ন 100 million.

And who can blame him? The house next door was a comparatively large and similarly extroverted contemporary mansion, selling for a record কাছে 70 million to minercraft billionaire Marcus “Notch” Parsons. The notch flew from the switch to see what was tempted by the authentic marketing propaganda. The home’s Instagram-famous candy wall and underground auto museum were applying and sealed the $ 5,000 deal on cathedral sushi.

Although it was 2014. After Opus ended in 2012, the market shifted. Billionaires were no longer interested in the most modern white box; They wanted true trophy estates, historical evidence or lots of flat land. None of the ops set up on a small hillside place with jetliner views. After all, real estate insiders believe that the sexy marketing tease was actually a turn-off, hating family-oriented buyers and leaving other potential clients sexually dissatisfied.

So the blossoming house is L.A. Its real estate became a symbol of redundancy. Other local developers greedily created the first success of Niamey, also churning out dozens of large white boxy mansions for buyers who were simply non-existent, just to see their market immersed in Opus, the biggest and worst of them all – Nimri is still incomplete. Except for the “The One” mix – sitting alone and unloving on the hills of his Trasdale estate.

For free, Nyami continued to try to sell the house until earlier this year, when one of its donors – local physician-real estate investor Joseph Englanoff – eventually took control of the property. Englanoff quickly renovated the place, making many mistakes in the previous design.

Stupid champagne became the refrigerator pantry. Spacious plank oak floor replaces cool white stone. The gold trim around the windows and doors was painted a matte black. And when it did return to the market, Apps was no longer Opus – it was just another anonymous L.A. in another ৯ 99.99 million price tag. There was the mansion. “No more games” has become an unofficial policy. Mix, don’t separate for different interests.

There are still two swimming pools, a movie theater, two kitchens and two bars. Each of the seven bedrooms has its own bathroom. Panoramic views still clear the shy Los Angeles skyline. But instead of a gold car, there are dinosaur fossils inside.

While it’s not yet clear what kind of discount he discusses from the 59 59.95 million pre-tag, Yeh is a seasoned real estate investor with decades of experience. Although ultra-low-profile – even many San Marino residents have never heard of her – she is also an incredibly wealthy woman who can probably buy any home on the planet.

Research shows that through the vast network of LLCs and other holding companies, Yeh owns the Southern California real estate empire in the hundreds of millions of dollars. His assets include the large shopping center at Arcadia and Roland Heights, the apartment building and the west side of the L.A. from Rancho Kukamonga to the Cando Complex.

One of the biggest jewels in Yair’s property crown is 8th and Hope Street in downtown L.A. Two years ago, in a move that surprised commercial real estate observers, he paid a whopping $ 220 million for the multifamily complex, which is 22 stories high and includes 290 luxurious apartments, plus a swimming pool and roof deck. The sale was 2018 in all cases L.A. Its the largest multiple multifamily contract and one of the largest per square foot downtown cliffs of all time.

Now that she is in her early sixties and married to two adult children, it is not clear what her plans are for the 90210 property. But she appears in no hurry to get out of San Marino, where she and husband Tony continue to lead a quiet life in their 15 15 million gated compound. The 2-acre estate includes a 10,000-square-foot mansion, an isolated guest house, a full-size tennis court with a viewing pavilion, a large swimming pool and a separate reflection pool. There is also a spacious, well-watered lawn, patio for grand scale recreation, plus a driveway and motorcourt that can accommodate 20+ cars.

Brandon and Ryan Williams of The Beverly Hills Estates put the list on hold.

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