The 1930s estate, which was designed by Paul R. Williams and was purportedly formerly occupied by Sylvester Stallone, was first put up for sale last year for $35 million.

Variety was forewarned by Joe Ravitch last year about impending media turmoil and the possibility of a “good recession.” However, this hasn’t stopped the seasoned media financier from making large real estate investments in Los Angeles; his Raine Group is well-known for earning $65 million in fees for advising the WWE on its recent takeover by the Endeavor Group. The buyers who just paid $25 million for a really spectacular Pacific Palisades estate with a very Hollywood past were Ravitch and his wife, Sonya.

Designed by renowned architect Paul R. Williams and constructed in 1937, the Tudor-style house is said to have been occupied by Sylvester Stallone in the 1970s. The very successful and Emmy-winning producer Steven Bochco, who made many of the most cherished television programs ever, including NYPD Blue, Hill Street Blues, and Doogie Howser, M.D., purchased it in 1997.

The 1.4-acre property was Bochco’s primary home until his death in 2018, at which point his son Jesse inherited it. The younger Bochco listed the Palisades Riviera mansion for $35 million last summer, but Ravitch didn’t make a bid until a year later and after multiple significant price reductions.

The secluded estate, completely encircled by a massive hedge and completely walled, boasts two gated driveways and a mansion-sized two-story main home that was recently refurbished and painted a brilliant white throughout, according to the description. The property’s park-like grounds, which also feature a detached guesthouse, a full-sized tennis court, and a poolside cabana, are the true star of the show. In total, the property boasts around 11,000 square feet of living area with seven bedrooms and ten bathrooms.

Highlights of the main house’s interior include a remodeled kitchen with a wood-burning pizza oven and stone worktops, a wine cellar, a family room with a drop-down projection screen, a library with built-in bookcases, and a separate guest wing. The guesthouse is detached and features a kitchen, a bathroom, and a gym of its own.

Large expanses of lush lawn, mature trees, and a dazzling pool situated far from the main house are all features of the rolling grounds outside. There are various locations on the property that are perfect for entertaining and dining outside.

The 61-year-old Ravitch is moving to Los Angeles from New York, where he resides in the Manhattan neighborhood of Gramercy Park. With modern fixtures, that three-bedroom condo is reportedly asking $5 million for sale.

Morgan Trent, Dalton Gomez, and Aaron Kirman of the Aaron Kirman Group owned the listing at Compass.