Ousted MGM CEO Gary Barber Lays Down $14 Million on a Vacant Beverly Hills Promontory Lot

Way back in early 2013, when the real estate market was still in recovery mode from our most recent economic recession, Mexican investor Mauricio Oberfeld coughed up $6,250,000 for a classic mid-century modern residence in Beverly Hills.
Unfortunately for the ol’ gurl, she happened to be situated on one of the best lots in the city: a .66-acre flat promontory north of Sunset Boulevard with unobstructed views of downtown Beverly Hills, downtown LA, the Century City skyscrapers, and (on a clear day) the Pacific Ocean. So her fate was effectively sealed the moment Mr. Oberfeld received the deed. Although he allowed the house to sit vacant for well over a year, the structure was eventually and inevitably bulldozed to make way for an ultra-contemporary compound.
According to a recent listing, Mr. Oberfeld commissioned Bowery Group, a prominent local architecture firm, to design a snazzy (and glassy) 11,000-square-foot mansion for the vacant property. Permits were pulled and approved, and Mr. Oberfeld flipped the lot back onto the market in 2017 with a $15 million asking price. Included in that hefty figure, of course, were the Bowery Group plans and permits.
 
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Ousted MGM CEO Gary Barber lays down $14 million on a vacant Beverly Hills promontory

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