From Realtor.com, August 1:
Former Google CEO Eric Schmidt and his wife, Wendy Schmidt, have paid $110 million for the Manor, a storied Los Angeles mansion.
Built around 1990 for television producer Aaron Spelling, the Manor has long been considered one of L.A.’s most impressive homes. The French chateau-style property is slightly larger than the White House and has a bowling alley, wine cellar and a beauty salon with massage and tanning rooms.
While the property will remain a single-family home, the Schmidts—philanthropists who have homes around the world—purchased it primarily to host meetings and events for L.A. nonprofits and cultural institutions, according to a person familiar with the transaction. The Schmidts recently partnered with L.A.’s Museum of Contemporary Art to create the Eric and Wendy Schmidt Environment and Art Prize.
Sold for a discount
The Holmby Hills property was listed for $137.5 million after several years on the market and multiple price cuts. It last sold in 2019 for about $120 million, when the seller was British heiress Petra Ecclestone. Ecclestone famously hired a team of roughly 500 workers to complete a massive renovation of the property.
The Schmidts are planning a significant remodel of the house to simplify the floor plan and maximize the energy efficiency of the property, according to the person familiar with the transaction. They plan to call the property simply “594,” a reference to its address on Mapleton Drive....
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Previously:
June 2011 - Thank You Daddy: "Petra Ecclestone Buys Candy Spelling’s $150 Million Mansion After A Massive Markdown"
Also at Realtor.com:
Tiny Seaside Cabin in Laguna Beach Is Listed for Huge Price of $18.8 Million—Despite Offering Just 432 Square Feet of Living Space
