Hilton estate sold to former Google CEO for $62M

Eric Schmidt's purchase is 2nd priciest deal to close this year in California

Los Angeles /
May.May 26, 2021 08:30 AM
Eric Schmidt and Rick Hilton with 1060 Brooklawn Drive, Holmby Hills (Getty)
Eric Schmidt and Rick Hilton with 1060 Brooklawn Drive, Holmby Hills (Getty)

Former Google CEO Eric Schmidt was the buyer of the Hilton family’s storied Holmby Hills estate.

Schmidt paid $61.5 million for the 2.6-acre estate and its 15,000-square-foot residence, according to Dirt.

The deal — the second priciest in the state this year — closed this month.

The sale price, while substantial, was well below the $75 million price tag that Rick Hilton put on the property in December.

It was Schmidt’s second eight-figure real estate purchase in Southern California in the past eight months. In September, he and his wife Wendy bought an 11-acre hilltop estate in Montecito for $30.8 million.

The Holmby Hills estate, sometimes called the Jay Paley Residence for its first owner, dates from the 1930s and was purchased by William Barron Hilton in the early 1960s. He lived there until he died in 2019.

The estate and its 13-bedroom home was designed by pioneering and prolific area architect Paul R. Williams.

The mansion is about as grand as one could expect, with decorative moldings, an 80-seat home theater, a wood-paneled formal dining room and large bedrooms.

The rear of the home opens to a large lawn leading to an ornate, Williams-designed pool with thousands of hand-painted tiles depicting the 12 astrological signs. There is also a tennis court on the property.

Schmidt was CEO of Google from 2001 to 2011 and held several key positions there in the following decade before retiring last year. His net worth is estimated to be north of $20 billion.

[Dirt] — Dennis Lynch 


Related Articles

arrow_forward_ios
Chrissy Teigen and John Legend with the property (Getty, Douglas Elliman)
John Legend and Chrissy Teigen wave bye to Beverly Hills mansion
John Legend and Chrissy Teigen wave bye to Beverly Hills mansion
Sue Gross and an aerial of the home at 960 N. Alpine Drive (UCI, Google Maps)
Beverly Hills home Ellen DeGeneres sold for $35M is back on market
Beverly Hills home Ellen DeGeneres sold for $35M is back on market
Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
The current Brooklyn Net sold his Malibu home in 2019 (Getty, Hidden Hills)
Kevin Durant returns with $16M Hidden Hills mansion buy
Kevin Durant returns with $16M Hidden Hills mansion buy
Jennifer Lopez and Ben Affleck with the Nile Niami mansion (Getty, Leverage Global Partners)
JLo tours Nile Niami-built Holmby Hills mansion asking $65M
JLo tours Nile Niami-built Holmby Hills mansion asking $65M
Meghan Trainor and Julie Bowen with the Toluca Lake house (Getty, Hilton & Hyland)
Meghan Trainor sells Toluca Lake home to actress Julie Bowen
Meghan Trainor sells Toluca Lake home to actress Julie Bowen
Helen Mirren and Taylor Hackford with their Hollywood home (Getty, Redfin)
Helen Mirren and Taylor Hackford list storied Hollywood estate for $18.5M or $45K per month
Helen Mirren and Taylor Hackford list storied Hollywood estate for $18.5M or $45K per month
9402 Beverly Crest Drive and the late Microsoft co-founder Paul Allen (Redfin, Getty)
Paul Allen’s massive Beverly Hills compound lists for $56M
Paul Allen’s massive Beverly Hills compound lists for $56M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...