Spend $18M on a House, Get the Royal Treatment

Spend $18M on a House, Get the Royal Treatment

Just in time to coordinate with the Royal Wedding a few weeks back, we may have heard of one of the best real estate marketing ploys ever!  Basically, you spend $18 million on a Hollywood Hills home and when you move in, you get the royal treatment for a year for free.  What exactly are we talking about?

The Oriole House, which sold in just a week, is what we’re talking about.  Previously owned by Sam Nazarian, CEO of SBE, a high-end hospitality company, the house came with a year’s worth of access to his company’s hotel quality amenities.  Basically, when you move in, you would get fully catered house parties, personal assistants, guest-only privileges at one of Nazarian’s many hotels, and a celebrity renovation consultant.

With all that, $18 million isn’t such a bad price!

Many people may recognize the posh residence as the home of Vincent Chase on HBO’s acclaimed series “Entourage.”  It is a spacious three-bedroom house with 5 ½ bathrooms, an infinity pool and spa, and panoramic views of the Pacific.  Who wouldn’t want to move in?

Originally, the house was listed in 2009 for $18.95 million and didn’t sell.  It is worth mentioning that the house has broken records for price per square foot in the area.  It is approximately 5,976 square feet and at the current sale price, that comes in to about $3,000 per square foot.

The most recent listing was made available to only the most privileged buyers who were all pre-screened and only then given access to the listing details.  Who’s the lucky buyer?  It looks like Stan Bharti, a bank owner, will be moving in pretty soon.  And we hope he takes full advantage of the hospitality offer he has paid for.

Katie Steil