By Katherine Clarke

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A Beverly Hills, Calif., mansion built for the late novelist Jackie Collins is coming on the market for $66 million, a potentially record-breaking price for the Flats neighborhood.

The sellers are real-estate investor Ben Nehmadi and his wife, Bita Nehmadi. They purchased the house for $21 million in 2016, about a year after Collins died at age 77, property records show. The Nehmadis spent about $25 million and five years gut-renovating the property, which was built for Collins in the early 1990s, Ben said.

The upscale Flats neighborhood was unaffected by the Los Angeles wildfires and has seen a surge in popularity as displaced families from other areas look for long-term housing, according to listing agents Richard Maslan and Susan Smith of Carolwood Estates. The Nehmadis had already planned to list the house before the fires took place, Ben said.

The roughly 21,000-square-foot, seven-bedroom estate sits on about an acre. The house was inspired by the David Hockney painting "A Bigger Splash," which depicts a swimming pool beside a modern house, said Smith, who also worked with Collins.

In a bid to expand her parcel of land, Collins bought the house next door and leased it to actor Al Pacino, who lived there until late last year, the agents said. The Nehmadis, who also purchased that lot for an additional $9 million, are listing it for sale separately, asking $16 million, Ben said. Being Pacino's landlord was "an absolute pleasure," Ben said. "He never bothered us."

The Nehmadis were originally drawn to the estate for its oversize lot and Hollywood history. "Jackie had many parties with celebrities and special events there," Ben said. "It was like the powerhouse of Beverly Hills."

The Nehmadis took the house down to the studs, changing the floor plan and adding an elevator, gym, movie theater and solar- energy system, Ben said. Prominent English designer Gavin Brodin oversaw the interiors. Outside, they redid the landscaping.

Ben is the founder of Republic Investment Company, a real-estate investment company with a portfolio spanning from California to New York and Costa Rica, according to the company's website. The Nehmadis are selling the Beverly Hills house because they travel often and don't spend enough time there, Ben said.

Collins was known for racy novels such as "Hollywood Wives" and "The World is Full of Married Men."

Write to Katherine Clarke at Katherine.Clarke@wsj.com

(END) Dow Jones Newswires

January 27, 2025 12:30 ET (17:30 GMT)

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