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Friday, June 1, 2012

Sunset Boulevard Mansion Sells to Chinese Buyers for $34.5 million.

By Lauren A.E. Schuker

Erhard Pfeiffer.
French-style mansion in Beverly Hills

A young Chinese couple has paid $34.5 million for a 36,000 square foot French-style mansion in Beverly Hills owned by real estate developer Fred Wehba.

The buyers-Siqiao Ning and his wife, who goes by Karen—are entrepreneurs and are based in China, although they spend time abroad, according to a person close to the couple.

The nine-bedroom thirteen-bathroom house sits on two acres in Beverly Hills and overlooks Sunset Boulevard. It has been on the market for several years since Mr. Wehba built it. It was first listed in the summer of 2010 for $68.5 million. In 2011, the price was knocked down to $55 million before being relisted a third time this February for $49.5 million

Built in a French Palladian style, the house features imported hand-carved limestone, French chandeliers, onyx marble, and 24-karat gilding. The house opens with a two-story entry and a double marble staircase. Gold gilded walls and ceilings decorate the library.

Jade Mills of Coldwell Banker Previews International and Mauricio Umansky of The Agency represented the seller. Joan Cohen of Sotheby’s International Realty represented the buyer

Sunset Boulevard Mansion Sells to Chinese Buyers for $34.5 million.

Posted on: Beverly Hills Real Estate-Beverly Hills Homes For Sale

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