Back in 2009, hedge fund manager Mitchell “Mitch” Julis and his wife Joleen doled out $10.3 million for a 1.4-acre parcel of land in prime Beverly Hills, adding to a roster of residential holdings that includes several additional homes in the same area. The couple then enlisted architect Richard Manion and builder Peter McCoy to replace the existing structure with an all-new contemporary manse, one replete with an “authentic” Italian tea house and Zen garden — and that’s just outside!
Now the co-founder of Canyon Partners is hoisting the glamorous estate back onto the open market, asking nearly $50 million for the bespoke home, which was completed in 2012. The sale comes on the heels of an announcement that Julis and his longtime partner, Josh Friedman, are opening a Dallas outpost of their L.A.-based hedge fund. The pair — former employees of Michael Milken’s Drexel Burnham Lambert — launched Canyon Partners in 1990; today the firm boasts some $24 billion in assets.
The Beverly Hills listing is held by Victoria Risko of Sotheby’s International Realty, and the museum-like structure is found at the end of a gated entry and secluded driveway that spills into an expansive motor court flanked by parking for at least five cars. There’s also a striking 100-foot-long formal step fountain, with bio-filtration system, that descends 15 feet.
Once inside the six bedroom, 10 bath home, 13,000-plus square feet of living space is punctuated by soaring ceilings, blonde hardwood flooring, and spacious rooms that open to outdoor decks and picturesque grounds. Among the highlights: a combination great room/movie theater, and a family room and dining area that opens seamlessly to a sheltered outdoor patio with fireplace.
A professional chef’s kitchen accented with an attractive curved red ceiling sports top-tier Poggenpohl and Molteni appliances, a large walk-in pantry and breakfast nook; and, elsewhere in the house, is an office featuring built-in shelves and a fireplace, and a library bedecked with walls of built-in bookshelves and clerestory windows. Outfitted with a cozy seating area and fireplace, as well as its own patio, the luxe master retreat comes equipped with dual baths and walk-in closets, plus two separate offices/libraries. There are five additional ensuite bedrooms, including a double-room guest suite.
Perhaps the most exquisite aspect of this monolithic property, though, are the exquisite grounds. Think a large flat grassy lawn planted with a grove of Gingko trees, a specimen weeping corkscrew willow, abundant fruit trees and 2,220-square-foot vegetable garden, plus a 70-foot tiled pool and spa, full outdoor kitchen, championship north/south tennis court, and the aforementioned Italian tea house and Zen garden.
Julis has been on a selling spree as of late; last year, he sold his oceanfront Malibu mansion for a whopping $40 million to GoodRX CEO Trevor Bezdek. He also owned several other mansions in Beverly Hills, including one that’s currently for sale at $18.9 million, and one that was sold last year for $14 million to the non-famous neighbor across the street.