Mattel Family Barbie Penthouse On The Market In Los Angeles For $10 Million

A 3,200-square-foot Century City residence formerly owned by Mattel founders Ruth and Eliot Handler has just been listed for $10 million. The property was initially acquired from the Handler’s in 2012 by developer and designer Nicole Sassaman for $3 million.

“Technically, I bought the home from the real Barbie, Barbara Handler Segal. Ruth and Elliot passed away. Her brother, Kenneth, was deceased as well. So everything was left to Barbara. But don’t call her ‘Barbie.’ If you call her ‘Barbie,’ she will correct you and say, ‘It’s Barbara.’ She is a lovely woman. But few people know that Ken and Barbie were the inspiration behind the iconic dolls,” Sassaman says of the penthouse.

Sassaman went on to explain how the original penthouse didn’t have a Mattel feel to it. “It felt like a 1960s time warp. The only thing in the home related to Barbie was the Barbie and Ken dolls in a glass case. I only wish that I had asked Barbara for them, but I didn’t have the heart. Basically we tore out all the electricity, the plumbing and the framing and the windows. We came down to nothing. The whole place was one room. We started all over again,” she said.

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Sassaman is no stranger to flipping famous properties and reselling them. She’s mainly known for buying and selling the Greta Garbo estate, which she claims helped her when it came to designing the Barbie Penthouse.

“One of my favorite properties that I flipped was a house that quite a few celebrities lived in, including Greta Garbo and Gloria Vanderbilt and Tab Hunter. The house got a lot of press, but when I sold it, the people largely bought it because Greta Garbo had lived there; it was called the Greta Garbo estate. And I thought, ‘Wow.’ If I ever buy a house or a property where someone famous has lived, I will pay respect to the iconic aspect and document everything from the beginning. So I took this approach with the Barbie penthouse. Also, I never got to redesign a penthouse, so this was such a fun opportunity to do something on a different scale,” she explains.

The house has an immaculate view of the Pacific Ocean and the Hollywood Sign.

“Every room you go into has something unexpected, whether it’s the library shelves that are actually a secret door or the little room with a loft. The penthouse has a lot of interesting things you don’t see every day.” The property has three bedrooms and three-and-a-half bathrooms. The office space has a queen-sized bed loft as well as a 350-square-foot balcony.

“I am always so touched by the relationship people have with Barbie. I also had Barbie’s when I was a little girl. I loved Barbie. But the most fun thing for me when I was a child was building and designing Barbie’s houses.”

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Sassaman explained why now was the right time to sell after all the work and love they put into the property:

“When I finished the penthouse in the early days, I was offered $10 million from quite a famous hotelier. It was a terrific offer. But I just wasn’t ready to sell at that time. If I don’t sell it, I get to continue to live here. And all my friends are dying that I’m selling. But I just thought it was a good time to let go and a great lesson to teach my 15-year-old daughter not to get too attached to things. Nothing lasts forever, and it is good to move on and try something new, not get stuck in a certain thing in one place. Also, it’s important to share this home. It’s a beautiful place. I have created so many amazing memories here. Even last night, all my friends were over. Everyone wants to celebrate here as long as we have it, so it seems like every night is a party. But I think it’s time to pass the torch and let someone else enjoy it,” she says.

Scott Segall is a real estate agent who’s responsible for the Malibu Barbie beach house listing in California who recently spoke about how unique the Penthouse property was in comparison.

“If you’re going to buy your daughter a Barbie Penthouse, and that Barbie Penthouse was a toy, it would look like this. It’s the live version of what Barbie would have had. There’s always been this idea that Barbie likes the finer things in life and we are delivering that.”

“This penthouse is a little more understated and low-key, so it’s not in your face. And I think a lot of people with high profiles love that. Beyond that, the history of having the Handlers who invented Ken and Barbie having lived there gives it some sort of cache. Nicole has completely reimagined the space. And I think it’s always fun when you have some kind of history associated with a remarkable property,” he adds.