This ain’t no Quibi-sized deal.
Jeffrey Katzenberg, the chairman of the short-form video content site and former boss of Dreamworks Animation, has sold his Beverly Hills mansion for $125 million, in one of the priciest-ever residential transactions in Los Angeles.
Katzenberg and his wife Marilyn “had been looking to downsize for some time, and received an offer they couldn’t refuse,” a spokesperson for the executive told the Wall Street Journal, which broke the story. “They will stay in the house for another six months, and plan to remain in the immediate neighborhood.”
The mansion spans 26,000 square feet and was built by architect Howard Backen, according to the Journal. Katzenberg paid $35 million for the seven-acre site upon which the home is built.
The publication reported that the buyer is a U.K. family. Westside Estate Agency’s Kurt Rappaport brokered the transaction.
The record for a residential home purchase in Los Angeles County is held by Amazon founder Jeff Bezos, who paid $165 million for David Geffen’s estate in February. Bezos’ purchase topped an earlier one by Lachlan Murdoch, who paid $150 million for the Chartwell Estate in Bel Air in December. [WSJ] — TRD Staff