You will be redirected back to your article in seconds

Artist Alex Hank Takes a Loss in Beverly Hills

Alex Hank
Beverly Hills, Calif.
$12.6 million

Last week, a contemporary art-filled villa tucked into the hillside overlooking Beverly Hills, Calif., sold for $12.6 million to a buyer from Mainland China. Originally built in 1964, the unprepossessing midcentury modern was radically reimagined in 2013 as a slick, ultra-contemporary architectural. The seller, Mexican heir and art collector Alex Hank, subsequently redecorated the property in an effusively bold, colorful manner.

The $12.6 million number is great deal of money, of course, but records reveal it’s also $300,000 less than what Hank paid for the crisply updated structure about five years ago, back in November 2014. Combined with taxes, fat realtor fees and maintenance costs — not to mention major moolah spent redoing the interiors — it seems likely Hank suffered a seven-figure loss on the premises.

Not that the photographer-turned-painter has to worry about such trifling monetary concerns. Hank is a son of Carlos Hank Rhon, a business tycoon who long revered as one of Mexico’s wealthiest men — Forbes estimates his vast fortune to be worth $2.1 billion. The Hank family presides over a multi-billion-dollar construction and financial empire, though they’re probably equally famous for their occasionally tense relationship with U.S. law enforcement officials, who have previously alleged the clan has deep ties to Mexico’s drug trade and are also involved in money laundering.

All that hasn’t dissuaded the younger Hank from fashioning himself enviable stateside home(s); he apparently divides his time between Manhattan and L.A., where he’s acquired and displays his significant contemporary art collection. And as his former Beverly Hills house attests, he has quite the eye for design.

In contrast to its glitzy interiors, the Trousdale Estate abode is modest to the point of obscurity from the street out front, with just the three-car garage and slab-sided front facade visible behind the driveway gate. A skylit-covered atrium leads past tall grasses to the all-glass front door, which pivots directly into a starkly modern great room with dining area and marble fireplace. The gourmet eat-in kitchen features pricey Calacatta marble countertops and a bevy of high-end appliances, while the adjacent screening room has two plush couches.

All four of the home’s bedrooms are ensuite, with the master featuring a fireplace and walls of Fleetwood sliders opening directly to the outdoors. The backyard, while not especially huge, includes a zero-edge swimming pool with raised spa, an L-shaped patch of grassy lawn, and a wee cabana with a firepit and space for lounging and al fresco dining.

Best of all, the property sports a slice of those quintessentially L.A. jetliner views, which — in this instance — sweep over downtown Beverly Hills and summit at the Century City skyline before journeying to the Pacific Ocean and Catalina Island on the distant horizon.

Popular on Variety

More Dirt

  • Marcus Buckingham Lists Hollywood Hills House

    Marcus Buckingham Lists Sunset Strip Villa

    English bestselling author and motivational speaker Marcus Buckingham is writing himself out of his Hollywood Hills crash pad. Barely two years after he bought the property for $3.3 million, the divorced father is moving on, having attached a $3.75 million pricetag to his charming 1920s home. Set just above the iconic Sunset Strip and a [...]

  • Fred Savage House

    Fred Savage Seeks Sale of Hancock Park Villa

    A Spanish-inspired Mediterranean villa in L.A.’s tony Hancock Park neighborhood, owned by sitcom veteran and showbiz polyglot Fred Savage, has come for sale at close to $5 million. The “Wonder Years” star, a seasoned TV producer and busy director of dozens of sitcoms including “Modern Family” and “2 Broke Girls,” acquired the property a dozen [...]

  • Mario Testino House

    Mario Testino Zooms Out of Hollywood Hills Home

    Internationally renowned fashion and portrait photographer Mario Testino has sold his urbane, art-filled home in Los Angeles, Calif., for a tad more than $5 million. The Peruvian-born beau monde snapper, who’s photographed innumerable European royals and scads of Hollywood heavy hitters over his 30-plus-year career, purchased the property in 2004 for $3.6 million and first [...]

  • Khaldoon Al Mubarak House Brentwood

    Manchester City's Khaldoon Al Mubarak Lists Posh L.A. Mansion

    An Mediterranean-style villa on a particularly charming, tree-lined street in Brentwood — the family-friendly yet enormously wealthy neighborhood on L.A.’s Westside — recently popped up for sale. Owned by cosmopolitan Emirati businessman Khaldoon Al Mubarak, the high-profile chairman of Britain’s Manchester City Football Club, the property has served as a part-time West Coast outpost since [...]

  • Kunal Nayyar House

    Kunal Nayyar Lands Sophisticated Hancock Park Estate

    Kunal Nayyar, one of the stars of the astronomically successful sitcom “The Big Bang Theory” and, hence, for several years running one of the highest earning actors on television, has plunked down a hefty $7.5 million for a stately English Tudor manor house in L.A.’s historic and historically hoity-toity Hancock Park neighborhood. Well below the [...]

  • Michael Jordan Mansion

    Michael Jordan Lists Park City Mansion at $7.5 Million

    MBasketball legend, badass businessman and property gossip column veteran Michael Jordan has hung a $7.5 million price tag on a rustic-modern mansion on the rugged and ritzy northern outskirts of Park City, Utah. According to listings held by Jake Doilney and Charlie Taylor of The Agency in Park City, the furniture is available separately. Property [...]

  • The Ennis House Sells for Record

    Frank Lloyd Wright's Ennis House Sells for $18 Million, Setting New Record

    After an incredible publicity blitz and well over a year on the market, Frank Lloyd Wright’s world-renowned Ennis House — tucked into the foothills of Los Feliz, near L.A.’s hipster-approved Eastside — has sold for $18 million to an as-yet-unidentified buyer. That number, while significantly below the $23 million ask, ranks it as the priciest [...]

More From Our Brands

Access exclusive content