Fanatics CEO Michael Rubin spends record $70 million on Ronald Reagan’s former home

Fanatics CEO Michael Rubin spends record $70 million on Ronald Reagan’s former home

Hollywood Hills simply noticed its priciest house sale ever. Within the Fowl Streets, a property as soon as owned by Ronald Reagan has traded arms for $70 million — by far essentially the most ever paid for a house within the neighborhood.

The client is Fanatics Chief Government Michael Rubin, in response to a supply acquainted with the deal who requested to not be recognized as a result of they aren’t approved to talk publicly. Fanatics is a sports activities e-commerce firm valued at $27 billion, and Forbes places Rubin’s internet value at $10.2 billion.

Data present the vendor is a restricted legal responsibility firm tied to Francesco Aquilini, a Canadian businessman and developer who serves as chairman of the Vancouver Canucks NHL crew. Aquilini has been on a scorching streak in Hollywood Hills over the previous couple of years; he set the neighborhood’s earlier value file in 2020 when he bought a spec mansion to Jeffrey Gou, movie producer and inheritor to the Foxconn fortune, for $42.5 million.

Earlier listings reveal the property was as soon as house to Ronald Reagan and his first spouse, actress Jane Wyman. Photographs are scarce for the reason that home was by no means formally listed on the market, however aerial pictures present that the house underwent a big transform lately.

The explanation for the record-setting value is the property’s uncommon location. Spanning three-quarters of an acre, it’s perched on the sting of a knoll simply above the Sundown Strip with just about nothing obstructing its view of the town.

Data present it holds seven bedrooms and 12 bogs throughout three tales. When the home final traded arms for $8.5 million in 2012, it featured a movie show, library, wine cellar, tennis court docket and Balinese-inspired swimming pool.

The $70-million deal redefines the highest of the market in Hollywood Hills, which all the time noticed high-profile offers however by no means fairly reached the blockbuster ranges of neighbors akin to Beverly Hills or Bel-Air.

It ranks as Southern California’s third-priciest sale to date this 12 months. The highest spot belongs to The One, a 105,000-square-foot mega-mansion that was auctioned off for $141 million, adopted by Robbie Williams’ compound in Beverly Crest, which Drake bought for $75 million.

Branden and Rayni Williams of the Beverly Hills Estates held the itemizing. Kurt Rappaport of Westside Property Company represented Rubin. None might be reached for remark.

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