Reese Witherspoon Finally Sold Off Her Pacific Palisades Home for $17M
American actress, producer, and entrepreneur Reese Witherspoon and her husband, Jim Toth, have finally found a buyer for their elegant Pacific Palisades home after more than 3 years on the market. They first tried to sell the estate off-market in 2016 with a price tag of $19.9 million.
According to Variety, it was finally sold to auto accessories heiress Robin Formanek and her husband, John Cianciolo for $17 million. Formanek is the daughter of the late AutoZone co-founder Peter Formanek. The couple isn’t new to the Los Angeles area, though. In 2016, they purchased a 2-parcel residential compound along the border of Brentwood and Santa Monica for $9.8 million.
The Big Little Lies star and her Quibi executive husband bought the then-unfinished home in 2014 for $12.7 million. They then dropped a substantial amount for upgrades, which include installing a hedge that blocks the view from the front of the .42-acre property. They also reportedly had a guard shack built for their full-time security detail.
The property was never listed on the open market, so there are limited details that have been made known to the public. However, the interior of her home was once seen during Witherspoon’s “73 Questions” interview with Vogue in 2014.
Designed in an East Coast traditional style, it is the work of famed architect Ken Ungar, who is quite famous among celebrity homeowners. Some of the celebs who loved his work are actress Jennifer Garner, NBA star Russell Westbrook, and businessman Byron Allen.
The 2-story home has 10,300 square feet of living space and features 5 bedrooms and 7 bathrooms. The sunny and cozy feel of the home is evident in its front living room. It even has an entire wall of built-in bookshelves with everything from books to hardbound film scripts, award statues to family photos.
The dining room’s focal point would probably be the spiky-edged chandelier, but the long 8-seater wooden table is also a prime area for hearty meals with her family or guests. The kitchen is decked with white subway tile backsplash, gray-blue cabinetry, and a large center island topped with a white marble counter.
It also has spacious backyard terraces and grassy lawns perfect to host alfresco dining. Of course, an outdoor space for a celebrity home like this would not be complete without a gorgeous swimming pool that has an inset spa and Baja shelf.
Although Witherspoon has let go of this home, she still maintains a number of properties in her hometown of Nashville, Tennessee. Some of which are said to be occupied by family members. She also recently dropped $6.25 million in 2019 to acquire the gorgeous Zuma Farms ranch in Malibu.
Witherspoon, who recently produced and starred in the Apple TV+ web series The Morning Show, her hubby and three children can also fly to the Bahamas and stay in their luxe getaway located among other multimillion-dollar mansions inside a guard-gated community.
More in Rich & Famous
Tips to manage Stress and Be Careful Once Offices Resume Post Lockdown
There would hardly be anyone who’d not be excited to get back to work after the Coronavirus lockdowns are lifted. It’s...June 27, 2020
If You’re Struggling to Pay Rent or Mortgage During COVID-19, These Tips Will Definitely Help You Out
Let’s face it- when talking about monthly bills, your rent and mortgage bills sit right at the top of the list....June 26, 2020
Struggling to set your Career straight? Take a look at These Tips that are Sure to Help
The pandemic has created havoc in many industries, and thousands of people are left without jobs. If not entirely out of...June 26, 2020
How to Build a Successful Career in Event Management – Expert Tips
Unlike earlier times, today’s younger generation has a variety of career choices. Current opportunities are usually based on either the global...June 23, 2020
Struggling to Figure Out Your Next Career Move? Here’s How You Can Keep Your Professional Progress On Track With These Expert Insights
We know that planning your next career move is the last thing on your mind right now. With companies closing and...June 23, 2020
Financial Mistakes Most Millennials Regret Making During College
Getting ready for college could be one of the highlights of your life, personally and professionally. A lot of opportunities open...June 17, 2020
Here’s How Americans Are Spending their $1,200 Stimulus Checks
When the Great Recession wreaked havoc in the economy in the late 2000s, Americans received stimulus checks from the federal government to help...May 20, 2020
Students Looking for Extra Income Can Apply for These Three Online Jobs
Students usually have limited budgets. And with unexpected expenses threatening to mess with those funds, most of them are now considering...May 15, 2020
The Five Most Important Things You Need To Consider When Getting a Personal Loan
A personal loan means borrowing from a lending entity, may it be a bank or some other credit provider. It’s...May 15, 2020