Entrepreneur Matt Coffin, the founder and former president of LowerMyBills.com, has sold a Mediterranean-style mansion in Bel-Air to Chicago businessman Ted Foxman for $16.25 million.
Entered through a two-story foyer, the 14,000-square-foot house has views of the Bel-Air Golf Course, the city and the ocean. There are six fireplaces, living and family rooms, a bar, a kitchen/great room with fireplace, a den, a library, a breakfast area, seven bedrooms and 11 bathrooms. The more than three-quarters of an acre of manicured grounds include a swimming pool, a cabana, a covered patio and lawns.
Coffin sold LowerMyBills, which connects mortgage seekers to lenders, to Experian in 2005 for $330 million. Foxman sold his Eagle Test Systems in November to Teradyne for $360 million and founded the branding and marketing firm Productive People.
Myra Nourmand of Nourmand & Associates, Beverly Hills, had the listing, according to the Multiple Listing Service, and Lynn Teschner of Coldwell Banker Beverly Hills South represented the buyer.