Entertainment mogul Jeffrey Katzenberg has sold his Beverly Hills home for $125 million, forging one of the priciest real-estate deals ever closed in the Los Angeles area.
The property was never officially on the market. Mr. Katzenberg and his wife Marilyn Katzenberg “had been looking to downsize for some time, and received an offer they couldn’t refuse,” said their spokesman. “They will stay in the house for another six months, and plan to remain in the immediate neighborhood.”
The former CEO of DreamWorks Animation bought the site for $35 million in 2009, records show. Located on a promontory above the Greystone Mansion, the historic Tudor Revival-style estate, records show the property was formerly owned by Simon Ramo, an American physicist who helped develop the microwave and the intercontinental ballistic missile.
Mr. Katzenberg hired architect Howard Backen and built a home from scratch. Property records show it is about 26,000 square feet, and sits on almost 7 acres.
The buyer is a family from the United Kingdom with homes in London and Aspen, Colo., according to a person familiar with the deal.
The deal was brokered by Kurt Rappaport of Westside Estate Agency, who represented both sides of the transaction.