Los Angeles real estate expert Lauren Beale reports that after three billionaires engaged in a bidding war for the extravagant Fleur de Lys estate in Los Angeles, the final price was $102 million. But whose offer won?
The buyer was represented by Fred Bernstein of Westside Estate Agency, who is married to Michael Milken’s daughter, Bari Milken-Bernstein. And indeed, the LA Times has found a paperwork trail that suggests Michael Milken is the new owner — the business address for the owner is that of the Milken Institute in Santa Monica.
But we doubt it’s Milken. His spokesperson, and people personally close to the family, deny so. And frankly, it doesn’t look like the kind of property that would match the lifestyle of him and his wife Lori, who have lived in a somewhat modest Encino home for several years.
Considering that the buyer’s agent, Fred Bernstein, is Milken’s son-in-law, all we can deduce is that when Bernstein’s clients needed an LLC for taxes, he recommended an attorney he knows well (whose address is at the Milken Institute) — or that the buyer is simply a friend of Michael Milken’s, and he referred the person to his son-in-law. Afterall, Milken has a vast international network of friends and business associates that could afford such a property, but would want to do so privately.
And what a property it is! The 100-room, 35,000 square foot mansion, furnished with Louis XIV and Louis XV antiques, was designed by Richard Robertson III and completed in 2002. Inspired by Vaux-le-Vicomte, a palace outside Paris, it has 12 bedrooms, 15 bathrooms, a 50-seat screening room, and accommodations for a 10-person staff and three-bedroom caretaker’s house. It is located between Carolwood and Angelo drives in Beverly Crest.
Gary Winnick’s $94 million purchase of a Bel Air property in 2000 is the second largest sale in the area.
So did Michael Milken buy it or not? We can’t say for sure. But as one friend commented, we’ll know soon enough because “the neighbors always blab.”