A producer known for his knack for spotting arthouse films masquerading as potential blockbusters has sold his home in a gated Beverly Hills neighborhood. Mike Medavoy and his wife Irena—an entrepreneur and writer—purchased the East Coast-style residence for $8.2 million in 2013, and sold it for $9.948 million, turning over a tidy profit.

The home, which sits on nearly two acres, is situated on a hill with canyon and ocean views. It contains seven bedrooms and 8.5 baths; it features six fireplaces, a library, media room, and generous master suite.

The interior begins with a classic, offset black-on-white tiled foyer, stilted threshold arches, and simple, hardwood staircase setting the tone of relaxed formality which extends throughout the home; Ralph Lauren designed the interior, and it shows. Warm and cool tones are beautifully balanced and, if the occasional mannerism does emerge a little clumsily, it does so charmingly, disarmingly.

The open-air interior layout is breezy and bright, with a big, blazing kitchen, second-floor balconies, and folding glass doors opening to the property at almost every opportunity. The library is especially cozy, and nicely unpretentious, avoiding the familiar and heavy-handed.

The property’s views are stunning; those of the master suite alone would almost carry the rest of the home. There is a flagstone pool/spa patio with outdoor kitchen and dining area.

The property had been initially listed in 2015 for a little under $15 million. The most recent asking price was $10.95 million.

Over the course of his career, Mike Medavoy has been associated with a staggering number of iconic films and film-makers, including Sidney Lumet, Terrence Malick, Francis Ford Coppola, Jonathan Demme, Woody Allen, Terry Gilliam, Milos Foreman, and Martin Scorsese. 2017 will see the release of Terry George’s new film ‘The Promise,’ which Medavoy co-produced.

Irena Medavoy is a regular contributor to the Huffington Post. She writes about women’s issues, politics, and lifestyle trends.