Our off-market sale in June of country music star Reba McEntire’s North Beverly Park estate made bigger-than usual celebrity real estate headlines. That’s because the deal closed for a stunning $22.25 million— a whopping 25%+ higher per square foot than the average of the last five sales in the development.
Homes in North Beverly Park, the most prestigious high-end residential real estate enclave in the United States, and one of the richest in the country, average 20,000 square feet. High-profile residents include stars Rod Stewart, Denzel Washington, Eddie Murphy, Sylvester Stallone, Mark Wahlberg and billionaires Sumner Redstone and Haim Saban.
McEntire joined the neighborhood in 2004 when she purchased her home through North Beverly Park developer Brian Adler, who also represented the seller. She then embarked on an extensive remodel and enhancement of the property including the addition of an approximately 2,000-square-foot entertainment pavilion. When it came time to sell this spring, she once again sought Brian’s representation, and it marked his 114th sale in the development.
As the original visionary for Beverly Park, Brian’s master planning of it goes back decades. Having been an investor himself, he found additional investors to purchase the 325-acre parcel, originally slated to be a golf course and country club named for Dean Martin. After buying out the original partnership, he then acted as both investing partner and general partner, hands-on developer and broker of the visionary gated community. Brian and his master planner intently studied nearby high-end communities like Beverly Hills, Bel-Air and Holmby Hills to borrow their best and improve on the rest.
“My goal was to recapture the extraordinary way of life in Beverly Hills in the ‘30s, ’40s and ‘50s, before traffic and tour buses ended it forever,” Brian says. “I wanted every detail, down to the street lamps, to contribute to the overall feeling.” To give the community a focal point, he created an award-winning four-acre park with playground. Then, to distinguish it from surrounding enclaves, he built large gatehouses at the entry points. When it was time to sell, Brian and his partners put together a program of powerhouse marketing techniques aimed at his upscale prospects, including a showroom on Rodeo Drive and a coffee table book on the estates of Beverly Hills, including Beverly Park. He personally presented and negotiated on all eighty home sites, calling on Jon Douglas Company colleague John Aaroe to be his go-to backup.
Brian, throughout his career, has been one of the best-known brokers and developers on the Westside, creating and founding the million-dollar-market pioneering Rodeo Realty, among his many achievements. Meanwhile, John Aaroe was making his own indelible mark on LA real estate, culminating in John Aaroe Group. Last December, the firm set the record for the highest-priced sale in the history of Beverly Hills, a $70M home bought by Swedish billionaire Markus Persson.
Both icons are still setting records, and they’re both still passionate about the real estate business. It’s inspiring to have them on the same team again.