N
eil Shekhter, a prominent Westside landlord, has reduced his apartment holdings significantly over the past year. His latest move is selling off residential properties, starting with the Bel Air Crest mansion he built with his wife Margot. The Mediterranean-style estate, located at 2156 West Stratford Circle, was sold to Herbert Boeckmann III and his wife Mary for $15 million after being on the market for a year with multiple price reductions.

    The property boasts eight bedrooms, 13 bathrooms, and 15,578 square feet of living space. It features an elevator, courtyards, library, wine cellar, and garage that can accommodate 16 cars. The Shekhters began building the home in 2005 while living next door, but their experience was marred by a lawsuit against All Powerful Plumbing & Heating and insurance company American International Group over water damage.

    Neil Shekhter's WS Communities has been downsizing its portfolio, with more than half of its apartment holdings being handed over to lenders in January. In May, the company hired JLL to market 11 Santa Monica apartment buildings, representing a third of its portfolio at that time. The Galpin Ford family, led by Herbert Boeckmann III's brother Beau, has expanded its business interests through various ventures, including television appearances and dealership ownership.