Eric Holoman, president of Magic Johnson Enterprises Inc., has settled down in Bel-Air, grabbing a five-bedroom home for about $5.47 million.
The Mediterranean-style house spent the summer on the market, originally listing in June for $5.7 million, before the executive snapped it up.
Set on a cul-de-sac in the guard-gated community of Bel-Air Crest, the 8,830-square-foot home features canyon views from its high vantage point.
Steps lined with trees lead to the door, where a two-story formal entry is filled with light from the large windows surrounding the home.
Pairs of pillars frame each room in the open floor plan layout. The living room boasts high ceilings and a fireplace, and a wall of glass, outfitted with a door on each side, looks out onto the pool. The family room has wood floors, custom cabinetry and a fireplace of its own. Across the way, the kitchen has two large islands topped with granite.
Upstairs, in addition to a sitting area and fireplace, the master suite comes equipped with dual marble baths, separate closets and a balcony. Other amenities include a private office, gym and sauna.
A mix of color blends out back, where a green lawn surrounds the salmon-colored tiling around the pool and spa.
Athena Taylor of Coldwell Banker Residential Brokerage held the listing. Michelle Hicks of R. Hicks Realty represented Holoman.
The property last changed hands for $2.25 million in 1998, according to public records.
Holoman joined Johnson Development Corp., a division of Magic Johnson Enterprises, in 2007 as president. He oversees day-to-day operations and investments of Beverly Hills-based urban development company.
MORE FROM HOT PROPERTY: