Andrew Lessman’s $22 Million Investment in a Stunning Santa Monica Home

Andrew Lessman's Ultra-Modern Santa Monica Residence

Andrew Lessman recently secured an exceptional deal on a striking Santa Monica residence originally listed for $33 million. This ultra-modern estate, designed by renowned architect Peter Choate, highlights the effects of the current slowdown in the high-end real estate market, particularly in Los Angeles, where many multimillion-dollar properties remain unsold.

First hitting the market in September at $33 million, this impressive mansion spans over half an acre and features a striking glass-walled design with six bedrooms and seven bathrooms across 9,300 square feet. Despite its allure, interest was slow, leading to a price reduction to $29 million in October. Ultimately, Lessman purchased the property for $22.5 million—an impressive 32% discount off the original asking price.



The favorable terms of the sale played a crucial role in finalizing the deal. The transaction featured a swift two-week escrow, a cash offer with no contingencies, and a two-month leaseback option for the sellers at no cost. Delaram Rivani of Carolwood Estates represented both parties but opted not to disclose their identities. Public records reveal that the sellers were Ahmed Tayeb, a Lebanese asset manager, and his wife Cherine Magrabi Tayeb, known for their esteemed art collection.

Originally built in 1981 and recently renovated, the residence is set behind gates and lush hedges, combining an imposing exterior with a cheerful and sunlit interior. Skylights, vaulted ceilings, and ample wall space make it ideal for showcasing art. Highlights include a spacious great room for entertaining, a modern marble kitchen with high-end appliances, and a master suite with stunning views of the Riviera Country Club golf course and the Santa Monica Mountains.



The beautifully landscaped grounds feature a dazzling lap pool and spa, perfect for entertaining. Outdoor amenities include a fire pit, multiple dining areas, an indoor movie theater, and a wet bar with an 800-bottle wine storage area.

Lessman, who has a history in luxury real estate, previously purchased a Malibu home in 2012 for $13 million, which he later sold for $38.5 million. This latest acquisition further establishes his presence in the luxury market.