Real Estate Industry News

Powerhouse producer Joe Roth is leaving Holmby Hills for Beverly Hills. A few months after listing his 13,600-square-foot mansion for $48 million, records show he quietly paid $23 million for a 1960s Midcentury in an off-market deal.

It’s quite a downsize for Roth, the longtime entertainment executive who founded Revolution Studios and produced blockbusters such as “F9,” “Dolittle,” “Maleficent” and “Alice in Wonderland.” The stylish home is smaller than many of its neighbors in Beverly Hills Flats, covering just 5,514 square feet on roughly half an acre.

Due to the relatively low square footage and high sale price, the price per square foot shakes out to about $4,171 — one of the highest ever recorded in Beverly Hills.

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Roth’s old place was designed by architecture legend Paul R. Williams, but his new spot boasts some pedigree as well. It was built 60 years ago by Daniel Dworsky, the linebacker-turned-architect who designed L.A.’s Federal Reserve Bank and UCLA’s Drake Stadium.

Tucked behind gates, the house was recently given a face-lift by interior designer Waldo Fernandez, who created minimalist spaces marked by white walls and wood accents. A covered courtyard entry keeps the residence in touch with its Midcentury roots, and the interiors are brightened by pocketing walls of glass and clerestory windows.

Five bedrooms and 5.5 bathrooms finish off the single-story floor plan. Out back, a covered patio overlooks an entertainer’s yard complete with a swimming pool, spa, fire pit and dining area.

Susan Smith of Hilton & Hyland held the listing. Joyce Rey of Coldwell Banker Realty represented Roth.

Roth has founded multiple production companies over the years, including Morgan Creek Productions, Revolution Studios and Roth Films. The New York native has also served as chairman of 20th Century Fox and Walt Disney Studios.