may be a common sight in the East Gate enclave of Bel Air in Beverly Hills, California, when media bigwig Terry Semel moves out of his home, which he recently listed for $12.28 million. East Gate has been home to a number of celebrities, including Rick and Kathy Hilton, Michael Eisner and Debra Messing.
Semel, a former Yahoo and Warner Brothers executive, and his wife, Jane, have lived in the 8,800-plus-square-foot home since the 1980s. It was designed by architect Robert Offenhauser and has four bedrooms and 6.5 bathrooms.
Outside the home is a large yard, covered terraces, and heated swimming pool and spa surrounded by a stone terrace. The estate also has a second structure that has a two-car garage, state-of-the-art screening room, and kitchen and bathroom fixtures, including a shower, sauna and steam room.
The average listing price for Bel Air homes for the week ending September 28 was $6.32 million, down 0.7 percent from the previous week, according to Trulia. The median sales price from June to August 2011 was $1.18 million, a 15.7 percent year-over-year decrease.