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The former CEO of Google Eric Schmidt has purchased a swanky Los Angeles estate. He picked up the historic home for $61.5 million, Dirt reported, while noting that the prodigious price marks it as the second-highest priced sale in the state this year.
The mansion was listed in 2020 for $75 million, so the multibillionaire was able to score a deal. A discounted price doesn’t discount the home’s storied history.
The manor was built by the celebrated Black architect Paul R. Williams in 1936, for the businessman Jacob “Jay” Paley, who paid about $100,000. Built in a grand English Georgian style, the property is set on over 2.5 acres and spans 15,000 square feet.
After Paley’s death in the 1960s, the business magnate and hotelier Barron Hilton purchased the place for the equivalent of $4 million, and lived there until his death in 2019, according to Architectural Digest.
His son and grandson, Rick Hilton and Barron N. Hilton, of the real estate brokerage Hilton and Hyland, represented the listing. And yes, the two are also Paris Hilton’s dad and brother. Linda May, also with Hilton and Hyland, repped the buyer.
Paris has a connection to the home as well, as it served as the site of a photo shoot in 2000 for Vanity Fair, the New York Post pointed out.
Realtor.com
The trophy property comes with 13 bedrooms and 17 bathrooms. Original details are still visible throughout the residence. The grand entertaining spaces feature coffered ceilings, delicate moldings, and eye-catching paneling. Gorgeous rooms include a sunken living room, dining room, billiard-room, and den.
A commercial kitchen can handle large-scale entertaining, and adjoins a Williams trademark circular breakfast room for casual dining.
The upper level, accessed by a dramatic staircase or by elevator, holds two main suites, each with a dressing room, bathroom and garden view.
Two more bedrooms and an expanded suite complete the second floor.
Outside, the lush grounds offer secluded gardens, reflecting pools, fountains, and specimen trees. They also include a pool with decorative tile work, a Moderne-inspired poolhouse, and a sunken tennis court. The property is entered by two motor courts and offers privacy behind wrought-iron gates.
Schmidt, 66, has a net worth of $21 billion, so he’s easily able to amass a primo property portfolio. He has owned enviable California real estate in Silicon Valley, coastal Montecito, and a mansion in L.A.’s Holmby Hills, as well as a $15 million penthouse in New York City, according to a 2015 write-up in Business Insider.
When he wasn’t buying high-end properties, Schmidt served as Google’s CEO from 2001 to 2011. After leaving that position, he continued to sit on the board of Google’s parent company, Alphabet, until 2019, and then maintained a role as a technical adviser at Alphabet through 2020.
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source https://www.realtor.com/news/celebrity-real-estate/eric-schmidt-purchases-los-angeles-estate/
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