A prominent Los Angeles estate has been sold in a blockbuster deal, with former Google CEO Eric Schmidt and his wife, Wendy Schmidt, purchasing the Spelling Manor for $110 million.
The sale of the 56,500-square-foot mansion was reported on Friday, August 1, by the Wall Street Journal, marking one of the highest-priced residential transactions in the city this year.
Originally built in the 1990s for legendary television producer Aaron Spelling and his wife, Candy Spelling, the estate features 14 bedrooms and 27 bathrooms, along with luxury amenities including a beauty salon, massage rooms, tanning beds, a bowling alley, and a wine cellar.
The Schmidts’ purchase price is slightly below the $120 million paid for the property in 2019 by a previous owner. The estate was sold at that time by fashion designer Petra Ecclestone, daughter of Formula One billionaire Bernie Ecclestone. Petra had bought the property from Candy Spelling in 2011 for $85 million and undertook extensive renovations.
According to the report, the Schmidts plan to use the mansion to host meetings and nonprofit events. They already maintain an extensive real estate portfolio that includes properties in Los Angeles, Montecito, London, Washington D.C., Miami Beach, New York City, San Francisco, and Nantucket Island.