Michael King’s estate sells for a Pacific Palisades-record $33.85 million
In Pacific Palisades, the Georgian-style estate of the late entertainment mogul Michael King has sold for a little over $33.85 million.
The sale is the highest single-family transaction historically in the Westside neighborhood, property records show, besting the previous high-water mark of $32.5 million set two years ago.
Set on more than an acre of grounds, the 2005-built house comes with serious design pedigree. New York-based firm Ferguson & Shamamian designed the 15,000-square-foot house, and the interior features the work of former White House interior designer Michael S. Smith. The formal gardens and grounds were done by landscape designer Deborah Nivens.
Attention to detail is evident throughout the two-story house, which features hand-painted walls, inlaid mother of pearl and elaborate millwork. There are seven bedrooms, 10 bathrooms, a wood-paneled office, a game room and a movie theater. A large island anchors the chef’s kitchen.
Outside, the grounds contain multiple terraces, a swimming pool and infinity-edge spa and a pool house. Views take in the city and ocean.
Elisabeth Halsted of Berkshire Hathaway HomeServices California Properties was the listing agent. Joyce Rey of Coldwell Banker Residential Brokerage represented the buyer. The exact sale price was $33,850,670.
In March, based on 22 sales, the median price for single-family homes in the area was $3.748 million, according to CoreLogic.
King, who died three years ago at 67, bought the house in 2002 for about $11 million. It had been listed for as much as $42 million, The Times previously reported.
The late executive and his brother, Roger, inherited King World Productions from their father, Charles King, in the 1970s and transformed the company into a syndication juggernaut. Among shows distributed by the company were “Wheel of Fortune,” “Jeopardy” and “The Oprah Winfrey Show.”
The Kings sold the company to CBS in 1999 for $2.5 billion in CBS stock.
Twitter: @LATHotProperty
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