Phoenix Pictures CEO Mike Medavoy—producer of hit films like "Black Swan" and "Shutter Island"—has sold his Beverly Hills estate for a tidy profit.
The seven-bedroom mansion on Oak Pass Road sold for $9.948 million last week, according to brokerage Coldwell Banker. That’s a $1.75 million profit on the home, which Mr. Medavoy and his wife, Irena, an entrepreneur and former model, bought for $8.2 million in 2013, according to county property records.
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The owners had apparently put some work into the traditional, Hamptons-inspired estate, which the listing billed as "stunningly renovated."
The nearly two-acre lot has a large, hedge-lined lawn, including a pool, hot tub and patio with an outdoor kitchen. The lawn is perched on a hill with views overlooking the canyon and Pacific Ocean, according to the listing.
Inside, iconic American designer Ralph Lauren inspired the design scheme, which has clean white, light blue and grey palettes broken by ornamental carpets and hardwood floors, images show. There are also six fireplaces plus a separate guest house.
The house had been on and off the market since 2015, when the Medavoys first listed it for nearly $15 million. They’ve reduced the price gradually since then, and the property was last listed for $10.95 million, according to listing records.
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The buyer is not yet known, but he or she will have a pretty spectacular view from the master bedroom, which has a second-floor balcony that overlooks the grounds plus the city and ocean vistas beyond. The master suite also has dual walk-in closets, according to the listing.
The listing agents on the property were Jade Mills and Joyce Rey. Ms. Mills declined to comment for the article.
An email sent to Phoenix Pictures was not immediately returned.