Daniel H. Stern has bought Westside Los Angeles' most coveted street for the first time in over six decades, a stately 1920s Spanish Colonial Revival house on one of the most prestigious streets in the area. The residence, which sits in a tree-shaded Santa Monica neighborhood with an expansive view of the Riviera Country Club golf course, was purchased by a New York-based investor for a still-hefty $14.3 million compared to the $5.4 million that originally listed it for, though that is a whopping $5.4 million discount off the original listing price.

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It may not be surprising that Stern, a Harvard graduate, is best known for his position as co-founder and co-CEO of Reservoir Capital Group, a firm that specializes in investing in equity and debt markets, specifically public and private equity. As a member of Harvard's Defeating Malaria initiative, he also serves on the board of the organization. 

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As well as owning a 13-room Fifth Avenue duplex apartment, he and wife Nanna also own at least three other luxury properties. The first was acquired from philanthropist Samuel P. Peabody in 2011 for around $15 million, while the second is a contemporary Santa Monica mansion priced at $7 million.

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A cream stucco-covered structure with terracotta-roofed structure has just been added to Stern’s real estate portfolio and the property was designed and constructed in 1926 by the Los Angeles based architectural firm Gable & Wyant, the firm that designed the Beverly Hills Women’s Club. 

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In just over 5100 square feet of two-level living space, the gated property has been recently updated and now features seven bedrooms and an equal number of bathrooms. Tile floors and hardwood floors are common throughout, along with arched doorways and high ceilings that boast wood beams and wooden beam accents.

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Its most striking feature is a formal dining area located on the main level of the home, along with a living room with a built-in fireplace and a wall of built-in bookshelves, as well as sliding glass doors that open up onto the backyard. An elegant and comfortable vintage kitchen can be found with a central island, an accompanying breakfast nook, as well as a workstation integrated into it. A playroom with an attached office is also located on this floor in addition to a bedroom with an ensuite bathroom.

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There are six bedrooms upstairs of this property, according to Rich Report, all of which are accessed by a dramatic spiral staircase. The master suites include a fireplace, a private balcony, and a walk-in closet, while the bedrooms on the first floor have an open loft space. 

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Aside from the fenced pool and spa with an attached guest house and a kitchenette, the property also offers two separate garages on the property. Inside, the half-acre-plus property boasts most of its amenities outside - as the backyard is lined by the Riviera links - including a guest house with a kitchenette and a brick-clad terrace.

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