Though he’s facing a slew of charges and up to 20 years in prison for his role in the highly-publicized college admission scandal, bigshot real estate developer Robert Flaxman isn’t letting any pesky legal woes dog his real estate game. Just last week, records reveal, he tossed down a hefty $11.23 million for his next door neighbor’s house in prime Beverly Hills.
But Flaxman has never been one to shy from attention. The flamboyant Crown Realty & Development CEO, who was formerly engaged to ex-Playboy Playmate Kristen Nicole and owns not one but two Rolls Royces that he uses as daily drivers, has long been famous among a certain segment of Angelenos for his mansion pool parties, which are frequently attended by an assemblage of scantily-clad young women. Known as “Robert Emerald” to his younger friends, the name he continues to use on social media, Flaxman enjoys an extravagantly spendy lifestyle.
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That spending extends to his personal real estate collection. Two summers ago, the 63-year-old developer dropped just over $12 million to acquire a Regency-style villa in Beverly Hills, on a quiet cul-de-sac north of Sunset Boulevard. As seen in gallery images, the renovated 1970 structure features a windowless red brick front facade, neutral interior decor, and all the requisite modern luxury amenities — a swimming pool, multiple fireplaces and an eat-in kitchen with fancy appliances — in just over 5,500 square feet of living space. Flaxman has since made the property his main residence.
The $11.23 million house next door was never on the market, so no interior photos are available, but records show the low-slung midcentury modern last sold over 30 years ago, underwent an extensive remodel in the 1980s and also contains just over 5,500 square feet of multi-winged living space. There are three bedrooms, five bathrooms, detached garaging for three vehicles, a wee guesthouse and a fan-shaped swimming pool.
It’s not yet known for certain what future plans, if any, Flaxman has for his $23.3 million Beverly Hills compound, but it seems likely that a veteran developer such as himself will want to maximize the property’s value by uniting the two parcels that comprise his 1.65-acre property into a single, cohesive estate. The easiest way to do that, of course, is by demolishing both structures and starting afresh with a single megamansion. And since neither existing house is of particular historic architectural significance, it would seem that route — should he choose to pursue it — is open to him.
Also worth noting is that Flaxman now owns two of the three homes that comprise his wee cul-de-sac. Should he buy the third property — which is significantly smaller and less valuable than the two he already possesses — he may be able to create his own private gated street, a very rare opportunity in Beverly Hills. And this is indeed prime real estate; his compound is located just a stone’s throw from trendy Trousdale Estates and happens to sit immediately adjacent to the historic Greystone Mansion and directly below The Knoll, the $100+ million megamansion owned by Harbor Freight Tools billionaire Eric Smidt.
And in addition to his $23 million Beverly Hills compound, Flaxman — who has pled guilty to charges he paid a total of $325,000 to help his daughter cheat on the ACTs and secure his son’s admission to the University of San Diego — continues to maintain a multimillion dollar Laguna Beach, Calif. getaway located inside the prestigious Emerald Bay guard-gated enclave.
Launch Gallery: Robert Flaxman Buys the $11 Million Mansion Next Door