The Los Angeles Conservancy is reporting that escrow closed Friday on the 1955 with a buyer who intends to restore the Beverly Hills residence rather than tear it down.
The buyer's name has not been disclosed, but the sale price is listed at $12.8 million. The home spans nearly 7,000 square feet on a 2-acre lot at 9439 Sunset Blvd.
“The Kronish House has dodged the wrecking ball,” Los Angeles Conservancy executive director Linda Dishman wrote in an email. “This outcome is a testament to the very hard work of many people, the willingness of [Beverly Hills] and the owner to give preservation a chance, and the power of public support.”
Designed by master architect Richard Neutra, the Kronish House was sold at a January foreclosure auction for $5.8 million and placed on the market in April for about $14 million. During the summer the owners had applied for a permit to cap the home's sewer line, a step that is taken to prepare a property for demolition.
At a heated City Council meeting in August, the owners of the home razing the residence to give potential buyers a chance to make a bid.
Councilman John Mirisch told Patch that he hopes the sale of the Kronish House leads the city to adopt a combination of the to protect historic sites in the community.
"I'm very pleased that the sellers were able to find preservation-minded buyers and would be thrilled to see the Kronish House restored to its past glory," Mirisch said. "I'm hoping the Kronish House saga marks a turning point for the city in the preservation of architectural masterpieces."