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Los Angeles

Guess co-founder unloads Beverly Hills estate for $18M

It hit the market in February 2016 for nearly $20 million

Paul Marciano and the property on Hartford Way (Credit: Getty Images MLS, Zillow)
Paul Marciano and the property on Hartford Way (Credit: Getty Images MLS, Zillow)

There must not have been enough closet space in his humble abode.

Paul Marciano, co-founder and former executive of Guess, sold his Beverly Hills estate on Hartford Way in an off-market transaction valued at $18.25 million, the Los Angeles Times reported. The property hit the market in February 2016, asking nearly $20 million.

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The Mediterranean-style gated home includes six bedrooms and six bathrooms spread out over nearly 9,150 square feet of living space. A landscaped yard, swimming pool, motor court, and cigar and wine rooms complete the estate.

Records show he bought the property nearly 20 years ago for $5.125 million. The estate recently rented for as much as $55,000 a month.

Marciano, who co-founded Guess Jeans with his brothers in 1981, left his post as chief executive of the denim giant two years ago. He and his brothers have since launched GM Studio, a new fashion brand founded in collaboration with Italian designer Cinzia Simone. [LAT] – Natalie Hoberman