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Onetime Home of Warner Bros.’ Harry Warner Asks Nearly $40 Million

In Beverly Hills, the home, now owned by Daphna Edwards Ziman, has been renovated with a nod to its role in Hollywood history.

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A Beverly Hills home once owned by Warner Brothers Studios co-founder Harry Warner—and renovated with a nod to its Old Hollywood history, including the tiles in its kitchen—is going on the market for $39.999 million.

“To me, it was about bringing back a sense of glamour and history,” said owner Daphna Edwards Ziman, who with her ex-husband, real estate investor Richard Ziman, bought the property in 1996. When they bought the house, Ms. Ziman said she found a box of old photos showing Mr. Warner and movie stars like Ava Gardner and Marilyn Monroe at the home.

According to property records, Mr. Warner owned the home in the 1940s. The seven-bedroom house has original details like hand-carved oak and leaded-glass windows. The kitchen tiles were hand painted to match the way the room appeared in the old photos, and decor includes antique sconces and photos of Old Hollywood stars like Humphrey Bogart and Marlene Dietrich. An addition with a movie screening room includes silk velvet curtains found in an old movie theater in downtown Los Angeles.

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Ms. Ziman, who is president of cable television network Cinémoi, said she also built a film editing room and a vault for film storage in the basement. The one-bedroom guest house includes an ice cream soda bar Ms. Ziman said she added for kids’ events. There are five waterfalls on the grounds, which span roughly 1.1 acres and include a swimming pool and tennis court.

Mr. Ziman was founding chairman and CEO of real estate investment trust Arden Realty, which sold to General Electric in 2006 for $3.2 billion plus $1.6 billion in debt. The couple divorced in 2010. Ms. Ziman said she is selling because her children are now grown. “I just feel like it’s time to start a new life,” she said.

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The listing agents are Joyce Rey and Jade Mills of Coldwell Banker Previews International and Drew Fenton of Hilton & Hyland.