Inman Connect New York delivers the perfect blend of outside-the-box thinkers, cutting-edge leaders, and hard-working, successful agents. Join us Jan. 24-26 for crucial content, education, and networking opportunities to help you thrive in today’s changing market. Register here. 

A 6,230-square-foot home in Beverly Hills owned by the British fashion entrepreneurs Tom and Ruth Chapman has sold for $35.25 million, The Wall Street Journal reported.

The property, which is located in the exclusive community of Trousdale Estates, was put on the market for $42 million in June. At a sales price of about $5,600 per square foot, the home has become one of the priciest to ever sell in the neighborhood, local agents told The Journal.

The five-bedroom, six-bathroom home features high ceilings and an abundance of natural light. The primary suite includes a poolside veranda, and a pool house can also function as a guest house. The property also includes a motor court and a three-car garage. Situated on about half an acre, the property also boasts views from downtown L.A. to the ocean.

The Chapmans purchased the property for $24 million in 2017, according to records. Over the course of its lifetime the 1960s-era home has undergone several renovations, but most recently came to market fresh off of a four-year remodel, according to the listing description. Listing agent Carl Gambino of Compass told The Journal that the renovation included replacing the kitchen and adding a media room and an office.

Dena Luciano of Douglas Elliman co-listed the home with Gambino, and Tomer Fridman of Compass represented the buyer, who was not immediately identified.

Trousdale Estates has attracted celebrities and billionaires for years. Just in February of 2022, “Saturday Night Live” alum David Spade sold his home in the neighborhood for $19.5 million. Jennifer Aniston, Courteney Cox and co-founder of Uber Technologies Garrett Camp have also called the neighborhood home.

Though the Chapmans’ home sale does not break any records, it’s still the priciest to close yet in the area this year amidst less-favorable economic factors like high interest rates and inflation, which have hampered sales. Luxury single-family home sales in L.A. declined 25.9 percent year over year during the second quarter of 2022, and they dropped by 38.9 percent year over year during the third quarter, according to reports from Douglas Elliman and Miller Samuel.

Over the years, the Chapmans grew their fashion boutique, which originally opened in Wimbledon in 1987, into a successful online luxury retailer, Matchesfashion.com. The company stocks hundreds of brands and ships to nearly 200 countries, but today also maintains multiple physical storefronts in London.

In 2017, the couple sold their majority stake in the business for £400 million (the equivalent of about $460 million USD today) to private equity investors.

Get Inman’s Luxury Lens Newsletter delivered right to your inbox. A weekly roundup of all the biggest news in the world of high-end real estate delivered every Friday. Click here to subscribe.

Email Lillian Dickerson

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×