Last June, amid some online hullabaloo , billionaire investor Bruce Karsh slapped a $42 million pricetag on his Georgian Regency home in LA’s Brentwood neighborhood. Following a sizable price chop, the estate has sold for $33,500,000, a hefty discount off the original ask and slightly below the $33,721,500 Karsh paid for the property in 2014.
By James McClain LOS ANGELES (Variety)
The buyers are philanthropist Betsy Bergman Rosenfield and her husband Andy Rosenfield , the CEO of consulting firm TGG Group . Rosenfield is also one of six managing partners at Guggenheim Partners , the financial services leviathan that boasts over $310 billion in assets under management. Among a multitude of other investments, Guggenheim holds a controlling interest in Dick Clark Productions , the Los Angeles Dodgers and the Los Angeles Sparks .
Conveniently located just five miles Guggenheim’s Santa Monica offices, the Rosenfields’ new L.A. outpost was built in 1940 by venerated architect James Dolena . Karsh purchased the property from his business partner Howard Marks , who owned the 1.9-acre spread for over two decades and hired Michael S. Smith — famed as the Obamas’ White House decorator — to massage the home’s interiors in his refined, “contemporary traditional” trademark manner.
Besides the 8,617-square-foot main house, the compound includes multiple accessory structures – an art studio, staff quarters, a “security building” and a detached gym among them. In the main structure are six bedrooms – including three upstairs – and eight bedrooms. The master suite includes a fireplace, sitting area and his/hers bathrooms. “Her” bath has a slightly frilly, playful vibe, “his” adheres to a more serious schtick with its old-world atmosphere – that chunky black marble and dark hardwood motif would do the Jonathan Club proud.
Wooden security gates guard a sweeping driveway leading past towering hedges and mature trees to an expansive motorcourt. A proper entry vestibule features a glamorous curved staircase, while an expansive family-style great room has a skylight and fireplace. Rows of French doors provide access to the romantic gardens, elegantly set off by lush lawns and a pill-shaped swimming pool. Discreetly sited around back is a secondary motorcourt for service/staff usage.
The estate lies on what is arguably Brentwood’s most prestigious street, where even the cheapest houses can easily command $10 million. Some of the nearest neighbors include multiple business luminaries, including billionaire art patron Eli Broad , Disney CEO Bob Iger , and former Merrill Lynch CEO John Thain .
Long based in the Chicago area, the Rosenfields currently maintain a palatial estate in the Lake Forest suburb. The 1922 Tudor-style manor house has more than 14,000-square-feet of living space and sits on a 15+ acre landscaped property that includes a small private lake.
As for Karsh, he and wife Martha have substantially upgraded their real estate circumstances with their recent $68 million purchase of a “modern farmhouse” in the Holmby Hills nabe. That deluxe Howard Backen-designed spread was custom-built for Brad Grey , the late CEO of Paramount Pictures.
The Brentwood estate was listed by Linda May of Hilton & Hyland .