Quibi's founder sells Beverly Hills mansion for a staggering $125mn
Los Angeles just got one of its costliest residential property sales in its history. The former chief of DreamWorks Animation and founder of Quibi, Jeffrey Katzenberg has hogged the headlines after selling his posh house for a staggering amount of $125 million. This becomes the third costliest property sale in Los Angeles County after purchases made by Jeff Bezos and Lachlan Murdoch.
The mansion has been sold to a UK-based family
This is Katzenberg's Beverly Hills mansion we are talking about. He and his wife Marilyn Katzenberg have sold the house to a family based in the UK, whose details have not yet been disclosed to media. The buyer is also reported to be owning several properties in London and Aspen (Colorado). Kurt Rappaport, co-founder and CEO of Westside Estate Agency, has brokered this deal.
The couple will stay in it for another six months
According to The Wall Street Journal, the Katzenberg couple was "looking to downsize" and had bought the entire property for $35mn in 2009. However, the expert brokerage and a generous buyer fetched a whopping sum of $125mn, a deal they could not refuse. The report adds that the couple will stay in the property for another six months, after which they will relocate nearby.
The house was previously owned by US physicist Simon Ramo
Katzenberg's now-sold mansion resides in a sprawling 7-acre wide property. It acquires a space of 26,000sqft. He had hired architect Howard Backen (the man behind Sundance Institute, Skywalker Ranch, and Disney Burbank Sound Studios) to design the humongous space anew back in 2009. US physicist Simon Ramo, who is known as the father of the intercontinental ballistic missile (ICBM), was its previous owner.
Katzenberg gave animated-films a different spin in DreamWorks, Walt Disney
So, who's Jeffrey Katzenberg? He is the founder of Quibi, the short-content streaming platform that recently bagged 10 Emmy nominations. He left DreamWorks in 2016 and was known to play a great role in conceptualizing hit titles like How to Train Your Dragon and Shrek. Before DreamWorks, he was with Walt Disney Studios where he had churned out some of its biggest hits.
A bit about Trousdale Estates, location of Katzenberg's mansion
Trousdale Estates, the location of Katzenberg's mansion, has housed several celebrities like Elvis Presley, Frank Sinatra, while President Richard Nixon lived nearby. In recent times, Jennifer Aniston, Ringo Starr, Simon Cowell, and Charlie Puth owned houses there. In 2019, Uber co-founder, Garrett Camp bought a house in Trousdale Estates. As per 2019 data, average sale price of a home in the area is $11mn.
