A two-story building in Beverly Hills has been sold for almost $12 million to a local investor. The 11,000-sq-foot Marian Building was built in 1928 by movie mogul Jack Warner and is one of the oldest commercial properties in the city. It is located at Little Santa Monica Boulevard and North Beverly Drive.
Douglas Fairbanks and Mary Pickford
Jack Warner was the president of Warner Bros Studios in the golden age of Hollywood. His Beverly Hills estate was larger than Pickfair, Douglas Fairbanks and Mary Pickford’s’ luxurious home. It also had a nine-hole golf course.
The vendor was Byer Properties of San Francisco.The building was named after the wife of Byer family patriarch Allan Byer. He is the proprietor of Byer California and is the part owner of the San Francisco Giants baseball franchise.
The new owner of the property is Behruz “Bruce” Gabbai, according to real estate provider CoStar Group and public records. Mr. Gabbai, who is a resident of Beverly Hills, founded a wholesale supply company called Four Seasons General Merchandise Inc. of Los Angeles.
Several bids were placed on the property when it was for sale, according to real estate broker Mark Esses. The selling price of over $1,000.00 per square foot is one of the highest “in recent memory.”
Before the recession, prices in the Beverly Hills area for similar properties were approximately $500.00 per square foot. According to Esses, the Marian Building is an example of only a handful of boutique buildings from the late 1920s left in Beverly Hills.
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