The Venice estate of late Oscar-winning producer Robert Chartoff has been sold for $3.05 million. Among Chartoff’s production credits were the Rocky films—including last year’s Creed—Raging Bull and 1983’s The Right Stuff.

The buyer, Jarret Myer, is the co-founder of the hip-hop label Rawkus Records, famous as the label that sparked a late ‘90s New York hip-hop revival with records like Mos Def and Talib Kweli Are Black Star, Company Flow’s Funcrusher Plus and Mos Def’s Black on Both Sides. In 2008, he founded Uproxx, an American digital media company in the image of BuzzFeed. He currently serves as the Uproxx’s CEO.

The multilevel home sits in a corner lot along one of Venice’s famous canals, with a private dock and a roof deck overlooking the waterway. The open-plan living room includes a fireplace with contemporary floating shelves and sliding doors opening to the patio. Another fireplace can be found in the master suite, which also includes a private canal-view balcony.

The kitchen boasts a thoroughly modern look, with blonde cabinets featuring elongated stainless pulls, an eight-burner stove and granite countertops. A corner nook to one side hides a small office, while a dining area with patio access through glass doors sits to the other side.

The home was originally listed for $3.15 million in April, about double the $1.65 million Chartoff paid for it in 2003.

Chartoff’s many films earned him a staggering 40 Academy Award nominations, resulting in 12 wins. He was 81 when he died last year of pancreatic cancer.