Stuart Vetterick of Hilton & Hyland, a member of the Forbes Global Properties network, has been named “Hyland Honoree,” a prestige named for firm founder Jeff Hyland that commemorates a “standout” real estate transaction from the preceding year. In Vetterick’s case, the transaction was closing “The One,” a 105,000 square foot property in Bel Air sold at auction in 2022.
Presented on Wednesday, June 28 at the 2023 Global Conference, Hyland Honoree celebrates Vetterick’s representation of Richard Saghian, founder of Fashion Nova and winning $141 million (including buyer’s auction fee) bidder of “The One,” a storied Bel Air compound that sold at auction in 2022. The property is one of the largest houses in the United States ever sold, and among only a few residential real estate transactions that surpass $100 million each year.
A broker associate with leading Beverly Hills firm Hilton & Hyland, Vetterick is a stand-out in the ultra-luxury market. Prior to his career in real estate, he bought and sold securities and other financial assets for one of the nation’s most successful and sophisticated investors. This experience honed his analytical skills and ability to identify value, trends and market timing.
“The One” was developed by Niles Niami and first hit the market nearly a decade ago for $500 million. After a series of delays and construction challenges, “The One” was ultimately put into bankruptcy and presented at auction in 2022. Drawing from previous experience with 363 bankruptcy sales, Vetterick was able to provide astute insight into the multi-phased process from pre-bid due diligence through and including closing.
“Jeff Hyland was a true legend in the industry, a consummate professional who prioritized market knowledge, collaboration among colleagues, diligence and a creative approach for the benefit of our clients. I am humbled to be named Hyland Honoree for my representation of the buyer of The One,” said Vetterick.
“I am thrilled Forbes Global Properties selected Stuart as the first-ever Hyland Honoree. He is beloved and admired by all and is very deserving of the award,” said Lori Hyland, chairman, Hilton & Hyland.
“Stuart earning the Hyland Honoree is a testament to his endless pursuit of excellence, and we could not be prouder,” said Billy Jack Carter, CEO, Hilton & Hyland.
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