Former AbbVie CEO Sells Hidden Hills Estate for $22 Million

Former AbbVie CEO Richard Gonzalez sold his Hidden Hills home for $21.7 million in the pharma executive’s latest real estate move this year.

The closing had been expected after the six-bed, 10-bath home at 24200 Hidden Ridge Road topped out the list of Los Angeles County’s largest homes under contract for the week ended Nov. 10. The closing price had not been known at the time of the weekly roundup released by Douglas Elliman’s Eklund Gomes team.

Gonzalez originally placed the home on the market in October for $23.5 million, after purchasing it in 2016 for $14.6 million.

The buyer, which property records indicate is a West Hollywood-based LLC, moves into a Cape Cod-style estate spanning more than 15,000 square feet on a nearly 2-acre lot. Hidden Hills sits at the west end of the San Fernando Valley.

Located in a gated community, the property keeps safety top of mind with a smart home system and cameras. Amenities include a 10-car garage, elevator, pool and home theater.

Douglas Elliman’s Marc Shevin and Hanna Shevin represented the seller, while Christie’s International Real Estate Southern California’s Tomer Fridman represented the buyer.

Earlier this year, Gonzalez paid $14.3 million for the purchase of a nearly 9,000-square-foot waterfront mansion in Boca Raton, Fla. It’s located at 650 Tern Point Circle in the gated Sanctuary community.

Gonzalez retired in July as CEO of AbbVie after more than a decade at the helm, but he remains executive chairman of the North Chicago-based drug giant. He’s credited with leading the company as its first CEO after it was spun off from Abbott Laboratories in 2013.

The company grew under his leadership with a buying spree that included $21 billion for Pharmacyclics in 2015 and $10.1 billion for ImmunoGen last year. Its blockbuster drugs include Humira, Skyrizi and Rinvoq.