In 1913, a year after the Beverly Hills Hotel opened and a year before the city was born, a large, two-story shingled chalet appeared on the barren flats nearby. Decades later, it would be treasured by actor Leslie Nielsen. Recently, the home at 721 North Beverly Drive was listed by Aaroe Estates Director Bobby Syed
. This is its first time on the market since 1974, when Nielsen sold it to the current owners.
721 North Beverly Drive, former home of Leslie Nielsen
And The Flats, once a near-empty plain, is one of the most exclusive and famous residential enclaves in the world. Its tiny empire reaches from Whittier and Doheny Drives, between Sunset and Santa Monica Boulevards.
In very early aerial photos, you can see how the area got its name — a giant, smooth pancake spread out in front of the Santa Monica Mountains. In a current version of the same view, the area is covered in a luxurious emerald blanket of trees — the brainchild of the development’s landscape architect, an admirer of Central Park’s Frederick Law Olmsted. Later, when silent films began to showcase these wide, curving, palm-lined streets, moviegoers across the country swooned at the wealthy Southern California lifestyle.
For Bobby Syed, representing the chalet is a highlight of his longtime experience in The Flats. He notes that since the initial building in the teens and twenties, there have been flurries of new construction in the 1960s and 1980s. A third wave started in 2005 and is still underway.
Yet despite these booms, he says, the inventory of homes for sale has always been moderate and demand relatively high. “Buyers are drawn by the schools, the city facilities and services, and the sheer Beverly Hills cachet,” he says. “Homes here have kept their values over the long haul. Properties that were selling for $1 to $1.5 million back in the mid to late ‘90s are worth, at entry level, $5 million today.
Beverly Hills also rebounds quickly from fluctuations, he notes. “Although the market corrected itself as much as 33% from a very high peak in 2007, by the end of 2010 we were already surpassing that peak. This extraordinarily quick recovery from a substantial adjustment indicates the strength of this market over years to come.”
Aaroe Estates in the Beverly Hills Flats
504 North Walden Drive Listed by Neyshia Go & Aaron Kirman
718 North Alpine Drive Listed by Lucy Kihm
915 North Beverly Drive Listed by Aaron Kirman
928 North Beverly Drive Listed by Afa Shafa
Recent Aaroe Estates Sales
903 North Roxbury Drive (Jacob Dadon)
927 North Rexford Drive (Mary Brill)
608 North Alpine Drive (Darrell Wallace)