The largest real estate purchase in Los Angeles this year belongs to Tom Ford, the creative director of his namesake label. In an off-market deal, the former Yves Saint Laurent and Gucci director spent about $53 million to purchase a Beverly Hills estate from hotelier Brad Korzen and designer Kelly Wearstler.

The house has a serious Hollywood pedigree. It was built in 1926 and passed from its original owner, a silent film star, to William Powell, the actor famous for the Thin Man films. Powell hired the architect James E. Dolena to give the place an update in the early 1930s. In the 1960s, Bond movie producer Albert Broccoli purchased the home. It remained in his family until 2005.

The seven-bedroom mansion sits on 3.2 acres and includes an enormous motor court in the front, a screening room, a gym, a chef’s kitchen and an inner courtyard. The grounds also house a two-bedroom guesthouse, a tennis court and a swimming pool.

Rumor has it Ford’s exorbitant bid beat out one made by hip hop royals Jay Z and Beyonce. Safe to say Jay Z won’t be naming any more songs after Ford any time soon.