Last June, amid some online hullabaloo, billionaire investor Bruce Karsh slapped a $42 million pricetag on his Georgian Regency home in LA’s Brentwood neighborhood. Following a sizable price chop, the estate has sold for $33,500,000, a hefty discount off the original ask and slightly below the $33,721,500 Karsh paid for the property in 2014.
The buyers are philanthropist Betsy Bergman Rosenfield and her husband Andy Rosenfield, the CEO of consulting firm TGG Group. Rosenfield is also one of six managing partners at Guggenheim Partners, the financial services leviathan that boasts over $310 billion in assets under management. Among a multitude of other investments, Guggenheim holds a controlling interest in Dick Clark Productions, the Los Angeles Dodgers and the Los Angeles Sparks.
Conveniently located just five miles Guggenheim’s Santa Monica offices, the Rosenfields’ new L.A. outpost was built in 1940 by venerated architect James Dolena. Karsh purchased the property from his business partner Howard Marks, who owned the 1.9-acre spread for over two decades and hired Michael S. Smith — famed as the Obamas’ White House decorator — to massage the home’s interiors in his refined, “contemporary traditional” trademark manner.
Besides the 8,617-square-foot main house, the compound includes multiple accessory structures – an art studio, staff quarters, a “security building” and a detached gym among them. In the main structure are six bedrooms – including three upstairs – and eight bedrooms. The master suite includes a fireplace, sitting area and his/hers bathrooms. “Her” bath has a slightly frilly, playful vibe, “his” adheres to a more serious schtick with its old-world atmosphere – that chunky black marble and dark hardwood motif would do the Jonathan Club proud.
Wooden security gates guard a sweeping driveway leading past towering hedges and mature trees to an expansive motorcourt. A proper entry vestibule features a glamorous curved staircase, while an expansive family-style great room has a skylight and fireplace. Rows of French doors provide access to the romantic gardens, elegantly set off by lush lawns and a pill-shaped swimming pool. Discreetly sited around back is a secondary motorcourt for service/staff usage.
The estate lies on what is arguably Brentwood’s most prestigious street, where even the cheapest houses can easily command $10 million. Some of the nearest neighbors include multiple business luminaries, including billionaire art patron Eli Broad, Disney CEO Bob Iger, and former Merrill Lynch CEO John Thain.
Long based in the Chicago area, the Rosenfields currently maintain a palatial estate in the Lake Forest suburb. The 1922 Tudor-style manor house has more than 14,000-square-feet of living space and sits on a 15+ acre landscaped property that includes a small private lake.
As for Karsh, he and wife Martha have substantially upgraded their real estate circumstances with their recent $68 million purchase of a “modern farmhouse” in the Holmby Hills nabe. That deluxe Howard Backen-designed spread was custom-built for Brad Grey, the late CEO of Paramount Pictures.