Paul Barnaby
This luxe California home is just the right fit for its new owner.
Fashion entrepreneur Julie Wainwright, the founder and former CEO of The RealReal — a long-popular luxury consignment company — has sold her stylish dwelling in Beverly Hills for $10.7 million, according to a release from its listing representatives.
News of the deal was first reported by the Real Deal, which added the identity of the residence’s new owner remains unknown.
The gated 4,500-square-foot perch didn’t spend long on the market. Property records show it listed in early August for $11.99 million. By September, it saw an even $1 million price reduction to $10.99 million. Come November, the deal was pending.
Wainwright spent $9.65 million for the dwelling in 2021, the records also show.
Wainwright launched The RealReal in 2011 — first online-only, then in brick-and-mortar form in 2017 with a store in New York City. (The RealReal now has three stores total in the Big Apple, plus a consignment office in Midtown.)
In 2019, the company raised $300 million in an initial public offering — and, by 2022, Wainwright stepped down.
The Steve Hermann-designed spread has massive floor-to-ceiling windows that let natural light pour in — as well as a grand open layout, a full wall of built-in shelves and a roomy chef’s kitchen. The primary bedroom has a stone fireplace.
Outside, and boasting wide city views, there’s a pool surrounded by a large deck with plenty of room for lounging.
In all, there are five bedrooms, five full bathrooms and a powder room. It all stands on a .57-acre lot.
Josh Flagg, of Compass, had the listing. Hang Zhang, of Keller Williams Realty, represented the new owner in the deal.