Russell Simmons gets $8.1 million from Dr. Chris Krubert

Count Russell Simmons as one of the folks hoping this new year will bring better fortune than the last. The music mogul had a rather terrible 2018 — he was swept up by the #MeToo movement, accused of sexual assault and/or rape by over a dozen women. As a result, he stepped down from Def Jam Records, his yoga lifestyle brand and other media properties.

Yikes. We hope those accusations aren’t true. But if they are — don’t go around raping people, kids.

Russell Simmons (photo: The Cut)

At least 2018 held one bright spot for Mr. Simmons, a guy who has two teenage daughters with former model Kimora Lee Simmons. His LA home sold at a huge profit after just one month on the market.

The former Simmons estate, Los Angeles

Mr. Simmons paid $5,877,500 for the property in 2013 and received $8,125,000 for his five years of ownership. Secreted behind a security gate and some of the tallest hedges Yolanda has ever seen, the Spanish-style abode was originally built in 1934 and features 6 beds, 7.5 baths and approximately 6,000-square-feet of space spread between the two-story main house and wee guest casita.

The deep-pocketed new owners, it turns out, are a married couple from Chicago named Dr. Chris and Tiffany Krubert. The good Doc is an accomplished businessman who holds both a medical degree in emergency medicine (from U. of Chicago) and an MBA (from U. of Michigan).

Dr. Chris Krubert (photo: Accipiter Productions)

From 2006-2013, Dr. Krubert was CEO of ApolloMD, growing the firm into one of the country’s “leading physician practice groups“. He’s now an Operating Partner at private equity giant Advent International and CEO of Accipiter Productions.

In 2009, Ernst & Young recognized Dr. Krubert as their “Entrepreneur of the Year”. And according to his bio, he also serves on the boards of four industry-leading companies and lectures at Stanford University’s Graduate School of Business (GSB), arguably the most prestigious business school on the planet.

The Kruberts — who have two college-age kids — also have a well-documented passion for expensive real estate. Let’s start their portfolio tour with the property purchased from Mr. Simmons.

Described as an “emotional Spanish hideaway” in listing notes, the mini-compound sits on a street-to-street lot in the Hollywood foothills, conveniently just above WeHo and the iconic Sunset Strip and just below the exuberantly expensive Bird Streets neighborhood.

There’s a two-car garage plus a stairway leading past a fountain to the front door. Inside, trendy ebonized hardwood floors run throughout the main level. A Barack Obama “Hope” poster graces the foyer.

The family room has a fireplace, rows of French doors and soaring ceiling. Elsewhere there’s a hidden entry to a “lower level rock cave” with a wine cellar capable of storing 1,500 two-buck Chucks. And, of course, both indoor and al fresco dining spaces.

The lush grounds include an outdoor fireplace, covered loggias, stone terraces — the yoga aficionado Mr. Simmons clearly took advantage of those — and a pool/spa combo by the guesthouse. Tucked into a corner of the backyard is a secondary gated entrance to the estate — accessed off the back street — with additional off-street parking.

Though the Kruberts have long been Midwest-based, this is not their first LA home purchase. Back in August 2016, they threw down $4,362,500 for a trig-level home in pricey Manhattan Beach. The property is desirably situated just 1.5 blocks from the beach.

Kruberts at home in Manhattan Beach (photo: Instagram)

As it turns out, the Krubert Manhattan Beach residence is currently for sale — it’s been on and off the market since last February (2018), actually — asking $4.849 million. And there’s an open house this weekend! So if you’ve got the dough and are house-hunting in the area, you know what to do.

Back in 2015, the Kruberts paid $5.5 million for a lavish home in Chicago’s Lincoln Park neighborhood. They flipped the property just two years later for $5,850,000, in what was one of the city’s three most expensive home sales of 2017, we believe. (The current owner is a mysterious LLC.)

The 6,900-square-foot manse has an elevator, custom de Giulio kitchen, a penthouse media room, a charcoal-colored office with a motorbike in it, and a rooftop terrace with Chicago skyline views.

As for Mr. Simmons, he still owns his longtime Manhattan penthouse, though in 2018 he attempted (unsuccessfully) to unload it with an ask just under $10 million. But he no longer stays in NYC — since last year he’s been on a “permanent vacation” in the resort destination of Bali, Indonesia to “focus on his spiritual practice“. Bali, incidentally, has no extradition treaty with the US.

Listing agents: James Harris & David Parnes, The Agency
Chris Krubert’s agent (Sunset Strip): Jade Mills, Coldwell Banker
Chris Krubert’s agents (Manhattan Beach): Dave & Jennifer Caskey, Strand Hills Properties
Chris Krubert’s agent (Chicago): Emily Sachs Wong, @properties

CategoriesPower Players

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