Jennifer Lopez and Marc Anthony have just sold their LA home in the Bel-Air neighborhood for $7.5 million to hedge-fund manager Mark Spitznagel, who is noted for a profitable bet against the market in 2008.
Originally listed for $8.5 million in 2008, the four-bedroom, five-bathroom house that billed as a French-style villa, is a walled-and-gated 0.75-acre property. It includes a guest house, swimming pool, stream, and garden with an arbor. The 1941 home has hand-distressed oak floors and various fireplaces. In 2005, the celebrity couple bought the 7,357-square-foot house through a trust for $6.25 million and redecorated it. The current deal with Mr. Spitznagel included $1.3 million for the furnishings. Brett Lawyer of Sotheby's International Realty was on both sides of the transaction.
The couple is in contract to buy a three-acre estate outside LA, in the Hidden Hills of the San Fernando Valley. With a $10 million asking price, the property has more than 17,000 square feet of living space, a 20-seat theater, and recording studio (which will definitely come in handy for these two).