Dr. Dre has given up what has been called the best view lot in Los Angeles to private equity firm founder Alex Soltani for $32 million.
The Hollywood Hills West home sold in an off-market deal after a brief appearance on the Multiple Listing Service last year priced at $35 million.
The contemporary estate has 9,696 square feet of living space, including a library/media room, a den, a wine cellar, six bedrooms and nine bathrooms. The three-quarter-acre lot contains a guesthouse and a swimming pool. The neighbors include such superstars as Leonardo DiCaprio and Keanu Reeves.
But it was the 300-degree knolltop views of the city, mountains and ocean that sold the self-made Soltani, who plans to tear down the existing house and transform the property into a $100-million trophy home.
Soltani, 36, is chairman and chief executive of Skyview Capital, a private equity firm based in Century City that focuses on technology and telecommunication buyouts.
Last year Dr. Dre spent $40 million on the four-acre Brentwood estate of supermodel and actress Gisele Bundchen and her husband, New England Patriots quarterback Tom Brady, at about the same time that Apple Inc. acquired his Beats company for $3 billion. He also owns a home along Malibu's Carbon Beach and equestrian property in Hidden Hills.
Dr. Dre, 49, is the founder and chief executive of Aftermath Entertainment.
The Grammy-winning rapper and record producer bought the property in 2011 for $15.4 million, public records show.
Branden Williams and Rayni Williams of Hilton & Hyland, an affiliate of Christie's International Real Estate, represented Soltani. Kurt Rappaport of Westside Estate Agency represented Dr. Dre.